Take Atwater, for example.

This morning I was perusing California Housing Forecast and I came across a Zillow graph of property values in Atwater, California (Hello, Atwater! I've seen you lurking on the site). The rest of you may be wondering: where's Atwater? Well, it's kind of in the middle of the state (click map to enlarge).


Anyhoo, the point is that this Zillow market graph for Atwater shows how home values are doing over there:

Yes, People. This is in California. And, yes, that is a very steep decline. To put it in perspective, let's look at the 10 year graph:

I realize that Atwater is a very different market than Los Angeles. But it's still in California. Could the Los Angeles graph dump as sharply? Hmmmm.