The Real Effects of the Housing Industry Downturn

The three major sectors related to housing are in the midst of a slump not seen since the early 90’s. Construction, Real Estate Finance, and Retail have all seen their rate of growth decline to pre-Clinton eras. Unemployment levels have shot up to 8.6%, a 2% contraction year-over-year.

The graph above was taken from the blog, piggington.com. Check out their site for more in depth analysis on the San Diego Real Estate Market

Some cities have been hit harder than others, below is a list of cities in San Diego that have been hit hardest according to sandiegoatwork.com’s December forecast:


National City- 14.4%
Imperial City- 11.9%
El Cajon- 10.1%
Bostonia-CDP 9.4%
Chula Vista 8.6%
Vista 8.2%

San Diego Foreclosure Report January 2009

According to research firm Realty Trac, San Diego County experienced 6,138 January foreclosures. A year over year increase of 13%. However, January foreclosures were down 8% against December, a decrease that’s largely attributed to new state regulation that recently became effective. A similar trend was seen last fall, when new regulations caused foreclosure filings drop off in October, only to come surging back in December.

"Smoke Free Apartment Buildings?"

First, smoking was banned in planes, restaurants were soon to
follow, and if activists have there way apartment buildings will be
next.
Health advocates point out that less than 14 percent of Californians
smoke cigarettes, making the state a prime target for policy change.
Activists in San Diego and National City are pushing elected officials
to enact laws against smoking in apartments and condos. Others are
promoting voluntary policies to landlords and management companies