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When the Salinas crowd moves back to Salinas, and Seaside looks like more like it used to, then Carmel will be ok.
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On my recent visit to Carmel(by the sea), I was intrigued to find  many 'for-sale' signs all over the town. Some are even by the ocean.. millions of dollars worth or properties for sure. But usually these would have been scooped up in a matter of days. Now they are just sitting in the market.
An anectodal story to say the high-end housing is in trouble....
 http://www.redfin.com/city/2908/CA/Carmel-by-the-Sea
Just thought I'd share with Patrick readers....
#housing