• Scam Diego alerts

The lead indicators of the San Diego economy, compiled by University of San Diego economist Alan Gin, continued to drop in November, indicating that the good news is not arriving. The indicator has declined each month this year. The November 2008 reading was 110.6, down 1.9 percent from October. In November of 2007, the index was at 140.4. Last month, every component declined: building permits, initial unemployment claims, stock prices, consumer confidence, help wanted advertising and the national economy.

  • Scam Diego alerts

Comments

SanDiegan Dec. 20, 2008 @ 3:03 p.m.

But Don: Don't you realize, all this is NOT affecting the City's finances - at least not its spending - notice the UT (on behalf of Fat David) is now pimping the "free" but unneeded New Downtown Library> They tell us it won't cost SanDiegans anything - why it largely being paid for with "State" funds and CCDC funds - and now a wonderful MISUSE of City School Bond funds -as if these aren't our taxpayer dollars - and no mention of the ongoing costs associated with the infrastructure and running of the "Signature structure" which will most certainly be utilized by the "homeless" (aka Bums") for shelter from the cold in the winter and air-conditioned comfort in the summer. Our xxxxing City is BROKE the economy is - even Bush now admits - is in a recession with no end in sight and Mayor Jerry continues to push the Copley agenda overcommitting scarce or non-existant City revenue on yet another useless costly project. BEST....

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Don Bauder Dec. 20, 2008 @ 4:32 p.m.

Response to post #1: Yes, Sanders and the U-T are not paying attention to the economic storm clouds which are already very dark, and will most likely get pitch black. Probably neither understand the numbers that economists are tossing out. Or maybe they just don't want to hear the downside scenario. Any intelligent management has upside, downside and moderate economic scenarios for which they plan. San Diego politicians only plan for sunshine. Ditto for the U-T. I wrote about the San Diego economy for 30 years while I was at the U-T, and I can't remember ever being asked by management my opinion of where the local economy was headed. Best, Don Bauder

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JohnnyVegas Dec. 22, 2008 @ 12:31 p.m.

Don, Nor Cal home values are down 44% from the July 2006 high, LA county is also off 44% from their high.

I think San Diego is not as bad as those teo but veyr close.

You really were on the money with your forcast of such a big drop off. I said 30% and I was so far off the mark I am embarassed to even mention how wrong I was.

You are one smart cookie.

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Don Bauder Dec. 22, 2008 @ 2:32 p.m.

Response to post #3: As of now, you are a smarter cookie than I am. San Diego County real estate prices are down 34 percent from their November 2005 peak. I don't remember what my prediction was. But it may have been for a 40 to 50 percent drop. I still think that a total plunge of 50 percent is possible. That's only another 16 percent from here. Best, Don Bauder

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