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An economy and job market based almost completely on financial services, the housing market, mortgages and construction will of course be far worse off than others without this much concentration in one area. Irvine is littered with paper pushing financial jobs. Look at Detroit, almost the same...

It's about time the richy rich types took it in the backside. Seemed like for a long time they couldn't do anything but make more money. I remember when the Forbes 400 had no billionaires at all. Now the entire list is made up of nothing but billionaires.

No one person or company is immune. People are in denial if they think they are an exception.

There will be profit taking tomorrow.

This is ridiculous, Buffet's got over $50B in cash and he doesn't buy on margin. This might be the dumbest posting in blogging history. You could have just bought his stock at $2300 yesterday instead of spreading false rumors, unless that was your game, try and tank Berkshire.

I wish this were the case. But good riddance anyway!

They had a reputation of never lowing prices or making negotiations. It doesn't surprise me that this was the result of that business practice.

You guys have it backwards. Its not that lower home prices aren't good for the economy, its that this economy is not good for high home prices. These are still outrageous prices. You gotta factor in all the job losses and lower wages, deflation. It will take its toll on any housing market...

$250/sqft in NB, make note of it.

Depends on your age. I've spent time in DP and it seemed like a lot of older people (no offense) and retirees. I think SC is better, even though its a little farther. Keep looking or just wait longer, prices are still retreating.

One car of the street is one too many IMO. It starts to look like a used car lot. I can't stand people who camp out for weeks on end on the curb. I've got a neighbor who has 5 cars lined up in front of his house, many sitting there for months on end. He has a fugly yellow 1970s truck with a...

More good stuff from the OC Reg rag: A UCLA economist did an analysis of the current ?structural transition? in Orange County?s economy and concluded that ?it will be around 2012 or 2013 before Orange County has fully regained the employment it lost in the home mortgage implosion.? In...

From the OC Reg: A UCLA economist did an analysis of the current ?structural transition? in Orange County?s economy and concluded that ?it will be around 2012 or 2013 before Orange County has fully regained the employment it lost in the home mortgage implosion.? In the latest UCLA...

Boston, great post but you lost me at that "bay area is different" mentality. FYI...Google traded their 10-20% annual bonuses to employees for G phones. Kinda hard to make your mortgage payment with a G phone.

Yea the central valley got killed, as it should. Surprised IE isn't higher, or Stockton. I say SoCal gets hit another 30% in '09...22% is a tad bit optimistic.

When they get to $250K maybe I'll take a looksy.

Again, see my other post. The Feds are getting money at 0%, or sometimes people are paying the Feds to watch their money as the short term yields have gone negative. All money market and savings accounts will also go to 0% since the banks will not be able to afford to pay you interest seeing...