It's hard not to notice all of the "for rent" signs on the Westside. INMHO it reflects the real state of our economy. JOB LOSSES. It doesn't matter how favorable terms are to buy real estate if you have lost or are worried about losing your job. Perhaps, many homeowners are hoping to wait out the recession, only to test the market next year or after. Good luck. The main problem we face is the disappearance of high paying jobs in the FIRE (Finances, Insurance & Real Estate) industries. The jobs that are being created now are in the retail and service industries. Where are these new high paying jobs going to come from now that the stock and real estate market bubbles have popped? Until GOOD JOBS are CREATED, the only direction for real estate is down.