Wanna see a few scary pictures. This is what it looks like when neighborhoods implode.
This is Sycamore Canyon in South Corona. It's a new tract in fact they are still building. It looks like we may have a few people that might have bought over their heads. Looks like they are trying to get out while the gettin's good. awww, too late.
This is a little farther north in Corona. This area is mostly larger and more expensive homes. Well it was, they are getting cheaper all the time. Judging by how many are for sale, you don't need a crystal ball to see where this is heading.
This is Moreno Valley Ranch. Another area where they built gobs and gobs of big $500k tract homes (soon to be $250k tract homes). The implode-meter is pegged, and this area is going to explode soon.
These aren't cherry picked areas, the whole IE looks like this. The newer areas much more so than the older areas though.