-22% projected price change in the OC in 2009

[mediaboyz_IHB]

According to this article, the OC is the 6th worst Real Estate Market in the nation and will drop a projected 22% in 2009! Just like Thornberg said, the OC is gonna get hammered.

OC 6th worst in the nation projected to drop 22% in 2009

 

[stepping_up_IHB]

Their 2008 figures must be an average for the entire year because our median house price hasn't been $532K for quite some time. As of last week it was $427K for resale homes, which is pretty darned close to their projected 2009 drop. We've sure gotten quite the head start.