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Another Record Month for Foreclosures
The month of April saw 3,601 default notices and 1,512 trustee sale notices. The former indicate homeowners who've been put on notice for mortgage delinquency; the latter are sent to owners about to have their homes repossessed. Both are at all-time records.
The graph to the right presents a long-term look at such filings. To account for San Diego's growth over the years, default notices and trustee sales notices (NODs and NOTs) are calculated as a percentage of San Diego's labor force. Even after this adjustment, the graph makes clear that the current pace of foreclosure activity is leaving that of the 1990s housing downturn in the dust.
This record-breaking foreclosure activity is precisely what I was talking about last week when I noted that there is an important distinction between "want-to-sell" and "must-sell" inventory.
-- RICH TOSCANO

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Crossing the Border for School:
A look at immigration enforcement at border schools.
Friday, May 23 -- 2:12 pm
Chula Vista Teachers Saved:
Revised budget cuts allow the school district to cancel all 274 educator layoffs.
Thursday, May 22 -- 3:30 pm
School Cuts Scaled Back $27 Million:
The superintendent will recommend what jobs to restore.
Thursday, May 22 -- 2:54 pm
SURVIVAL IN SAN DIEGOAvoiding Scams :
Some tips for homeowners in foreclosure.
Friday, May 23 -- 4:17 pm
LETTERS TO THE EDITORSimple Solution:
To prevent Sunroads and Blackwaters of the future, all permits above a certain threshold should be subject to discretionary review.
Wednesday, May 21 -- 7:27 pm
CAFÉ SAN DIEGOPassing Judgement :
Let’s not judge people by the mistakes they make, but by how they respond to them.
Friday, May 23 -- 5:33 pm
COMMENTARY: SLOPSome Friday Thoughts :
Was Sanders' campaign manager doing 'dirty' things or just stupid maneuvers?
Friday, May 23 -- 5:53 pm
COMMENTARY: RICH TOSCANOForeclosures Creeping Up the Economic Ladder :
Some new evidence suggests that foreclosure activity is increasing among borrowers with better credit and more expensive homes.
Friday, May 23 -- 6:07 pm
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SURVIVAL IN SAN DIEGO
A Cheerleader Drops His Pom-Poms:
David Lereah, head booster for Realtors earlier this decade, apologizes for being wrong.
Jan. 6 -- 10:47 am
LETTERS TO THE EDITOR
Deeper Shades of Hueso:
Help readers get to know the new City Council president on a more personal level.
Jan. 7 -- 1:46 pm
CAFÉ SAN DIEGO
MPA Success Stories:
Here's a look at the tangible results MPAs have yielded.
Jan. 6 -- 4:30 pm
COMMENTARY: SLOP
You're Corrupt? Get Out of Jail!:
Convicts find freedom, the former city manager of Chula Vista heads to Iraq, and more tidbits.
Jan. 6 -- 7:22 pm
COMMENTARY: RICH TOSCANO
Another Resale Home Price Drop in December:
The median-based price indicators closed out a dismal 2008 with another monthly decline.
Jan. 6 -- 4:06 pm
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