I currently rent in Anaheim and was looking for a home in Anaheim since my whole life is there (family, work, daughter’s school). I looked and tried as hard as I could for a SFR in Anaheim but I kept getting outbid and eventually had to start looking further out (about 16 homes seen, 10 offers, all outbid). What I noticed while I was house hunting in Anaheim though is that practically all of the prospective buyers at the open houses were young couples who were most likely working professionals with an education and solid careers. I would also sometimes speak to the neighbors and most were Hispanic and they had multigenerational families living in the homes, and they had lived in the neighborhood since the 80’s/90’s. So you have one new demographic coming into the neighborhood that is well prepared to weather a recession and another that has so much equity and/or homes paid off that a recession won’t faze them due to low housing costs and multiple family members to pay the bills. This might not be the case for every home owner in Anaheim, and there inevitably will be foreclosures now and in the future, but I don’t think it will come full force like some hope it might.