Calif Bill wrote:
The California people have not lost money.

Yes, a lot have. Especially people who took cash out of their "increased
equity" by refinancing, and then either got laid off or got the loan
called. Or those who got laid off and had to sell.


... May take a little longer to
sell, but the prices have not gone down.

You have your head stuck in the sand, too. Do you have

I have several relatives & close friends who are in the real estate
business in California, and another associate who is an REIT manager and
does a lot of business there. The decline in value is not really a crash
(although it looked like it was going to be a BIG crash for a while) but
it's definite.


... Since the guy and his partners are realtors, they seem
to know a value.

Are they as full of malarkey as you are, Mr Moderate Democrat?

DSK