The WSJ's cheerily-titled "California's Crashing Market" has a handy interactive graphic where you can see exactly how screwed some of the counties here are screwed ... homes sold at a loss, foreclosure sales, negative equity percentages.
Among the counties not featured: San Luis Obispo, Santa Barbara, Marin, San Francisco, Alameda, Contra Costa, Santa Clara and San Mateo (AKA Silicon Valley) and San Diego. You know, counties with a very high percentage of rich people. Or, at the least, a high percentage of people who can afford to make their mortgage payments. I am sort of relieved that my county's not on the "Hoooo-boy, you are so screwed!" interactive graphic (which accompanies "California Home Sales Revive, But Not Without Intense Pain"). But reading the article makes me twitchy because, seriously? Nobody foresaw the collapse of the exurbs?
Anyway, despite my county not being on the "Hoooo-boy, you are so screwed!" interactive graphic, it's not like it's 2004 all over again here -- per "Bargains Push Bay Home Sales, But Prices Plunge" (SF Chron, Oct 22, 08), median home prices in my county dropped 33% in year-over-year comparisons. So, wait ... maybe we are screwed after all.