[Always Right]

Looks like Chicken Little had more sense than his critics.

I always said there would be a slowdown. It was the outlandish predictions of 40% decline in home prices, talks of 1929, etc., that I found obnoxious. So far we have had 16 months of housing slowdown and we have seen a 3-5% decline in nationwide pricing. It is still far from the disaster that was being pumped. So far we have had one month of economic slowdown. We are far from the economic doom that was being pushed.

[Pelham]

The median in LA is down 15% YOY.

http://www.housingtracker.net/old_housingtracker/location/California/LosAngeles/?state=California&city=LosAngeles