The Bubble is created and when it bursts, it collapses the prices all at once, as far as Historical charts will show you.

Thankfully some other deal will hopefully make up for that but I can't tell you how many deals have collapsed at the 11th hour through no fault of my own over the years and for me to get a fat $0 in earnings.

ALL RE is cyclic and Calif is typically an 8-9 cycle, especially in the most desirable areas like SF Bay area, Orange County.  2008 was a major down turn due to the mortgage industry collapse, not true property values. 

Or do you think a cautious approach is taken over the entire industry because of previous bad appraisals a few years back that created the collapse.

Should I buy now or wait till the market collapse?

The first thing that came to mind was the drain tile has collapsed.

The septic tank had collapsed, leaving a big hole in the back yard.  

“I’ve never seen anything like this before.”The speed of the collapse has been stunning.

I was almost wiped out by the 2008 Economic Collapse and now I am just selling and planing to consolidate my efforts with anything I can do tax-free or tax-deferred.

Since then the back side of the roof had collapsed into the property.