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San Diego County home values sank 1.1% in January from December of last year, according to Standard & Poor's Case-Shiller data released this morning (March 27). San Diego's 1.1% decline was worse than the 0.8% drop of the largest 20 metro areas. For the year ended January, San Diego home values were down 5.3%, worse than the 3.8% drop of the 20 largest metro areas. San Diego home values are now down 40.6% from the peak in November of 2005.

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8

Also means we have not come out of this recession/depression, and that state and muni budgets will fall MORE outof the black from lower property taxes.

March 27, 2012

We are not out of the woods. (That's why Wall Street is celebrating. A sick economy means the Fed will pump in more liquidity, buoying Wall Street.) Housing has further to go on the downside, in San Diego and in the nation generally, except in some extremely depressed markets like Las Vegas and Phoenix which may be hitting bottom. Best, Don Bauder

March 27, 2012

Don, we have a shadow inventory of 1.5-2 million homes that should be/are being foreclosed on. We are far from out of the woods in any area-Las Vegas would be the LAST to come out IMO because of their sick economy and highest in the nation unemployment rate-why would they have hit bottom with those issues???

March 27, 2012

Phoenix and Las Vegas fell so far that they have had a bit of a bounce-back. Remember, I said they MAY have hit bottom. I think the nation is in for more downside, greatly because of the overhang. For a variety of reasons, banks are reluctant to foreclose in many cases; people are living free in such homes. Best, Don Bauder

March 28, 2012

Phoenix and Las Vegas, after huge plunges, have bounced back modestly. Remember, I said they MAY be bottoming. I do not think the U.S. generally is bottoming. Best, Don Bauder

March 28, 2012

We were recetly in Scottsdale and it seemed the housing market over there was definately better than that of Southern Ca. You might find this interesting: https://asunews.asu.edu/20120327_business_orrreport

March 28, 2012

That was an interesting article, and it is hard to believe they are doing so good (not that it is false), and I have no idea why AZ is doing so much better b/c it was my understanding AZ was one of the worst off states right behind NV.

March 28, 2012

Phoenix experienced one of the worst collapses in the nation. It is coming off a very low base. Best, Don Bauder

March 28, 2012

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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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