[Dianna]

Foreclosures take time, do they not? The house next door to me has been empty for more than a year and the bank hasn't even claimed it yet.

We should be hearing about rental prices spiking due to demand of all these people losing their homes.

In some California cities, prices have dropped over 45% since the highs of 2005.

Where? I have numerous family members who have been unable to buy in California for the last dozen years.

[Pelham]

Not Sacramento. They’re only down a mere 32% since 2005:

http://sacramentolanding.blogspot.com/search/label/Graphs