Lake Forest California in Home Price Nose Dive

Well, this is interesting:



That must be the sound of Lake Forest home debtors saying something to the effect of:

"AARRRRRRrrghhhhhhh, Oh MY GOD! Oh my GOD! My House Is Worth What???? WhoaaaaaAAARRRRIGGHHHHHH!"

Then there is the sound of crickets.

Or maybe it's just fence-sitters who don't trust realtors, or prospective buyers who just can't find the $100,000 down payment required to secure the $650,000 worth of mortgage financing:



And then there's the bone-crushing Alt-A Prime mortgage recasts ready to come on the scene in May and June 2009!



Are we hitting bottom in Lake Forest, California home prices?

(Graph pics from Altos Research website)