Sure 2006 was an "interesting" change up year for housing in Southern California.
But there is no housing crash people.
Here's the deal: The minute someone can prove that home prices are truly declining, then you can say there's a housing crash in Orange County.
Inventories of homes for sales continue to rise.
Orange County median home prices are UP 3% YTD January 2007 to $642,000 per home! That's an average price for a shack to live in folks.
A housing market correction?
This is the OC.Nothing to see here.
After the corrupt real estate industry complex (home builders, real estate agents and mortgage lenders) in southern California are done laughing there asses off, they start shouting "bullshit!, bullshit!" at the top of their lungs.