A few months ago, I posted a clip of Jim Cramer, CNBC investment guru/analyst about the IE real estate market.  RedCounty Riverside has posted the following Cramer video with an updated look.  It is a little off considering Indio is listed as being part of the Inland Empire, but the gist is the same.

And for a little more salt in the wounds, here is an article from MSNBC with the following quote:

“If you switch from a non-verification of employment status, and income and asset status —where you’re going to fully verify everything during this transition — you’re going to see in excess of 50 to 60 percent of the notes in California go into the can, because they’re not going be able to qualify under those new guidelines," he said.