The OC

Whenever I start feeling down about property values being down here in Nashville by anywhere from 30% - 50% from the 2006-2007 highs, I read something like this about California's market and it helps keep things in perspective. From the Studley Report:

Property owners, while trying to avoid holding fire sales, are aggressively disposing of distressed office buildings. Maguire Properties is one landlord unloading properties in earnest, recently selling the three-building City Parkway Towers complex. Other recent sales include Maguire Company’s sale of 3161 Michelson Drive to Emmes & Co. and Ford Motor Co.’s sale of One and Three Premier Place to Transpacific Development. Overall, properties are trading at 80 to 90 percent less than at the height of the investing frenzy in 2007.”