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According to the multiple listing records and as reported in the Los Angeles Business Journal, local residential sale prices have not gone down during this market cycle. 

As I see it, it is the school district of La Canada/Flintridge that has excellent teachers that keeps up the demand for homes in this area. Also, this area is snuggled up against the Angeles Forest Foothills at an altitude that is above the Los Angeles Basin smog infested lower altitude. 

During the summer, there are musical programs at the park on Foothill Blvd free to the public. And Descanso Gardens is a gem to visit and it is a refuge from the maddening crowds of Los Angeles. 

That is why demand for homes in this area remain steady and keep the asking prices steady to slightly higher during this market cycle.   

Mortgage rates are higher now that a few weeks ago. Who has come out ahead? Gold bugs, inflation bears, and global growth. The fed lowered the prime rate by 1/2 point and interest rates went up!

However, construction money is 0.5 less in cost, short-term rates are down, but the money crunch is yet around in mortgage land.

Overseas folks can come here and outbid us for real estate... our currency has been devalued!

Wages in Asia will some day rise, but in Asia wages are $2 for a days work.  Asia is dependent on exports to us, and global credit is much more tighter than seven weeks ago.

More inflation anyone??