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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.

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4

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....

Dec. 20, 2008

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

Dec. 20, 2008

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.

Dec. 22, 2008

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

Dec. 22, 2008

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4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
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