voiceofsandiego.org: Toscano... Foreclosure Frenzy Continues in May
an independent nonprofit |
We depend on your donations. Consider joining us today.

Foreclosure Frenzy Continues in May


PRINT     E-MAIL STORY    SHARE

May was another month for record-breaking foreclosure activity. This time, the new all-time high was set by trustee sale notices (NOTs), which happen late in the foreclosure process and serve as notice of an imminent home repossession. 1,762 NOTs were delivered in May.

Notices of Default (NODs), which serve as an earlier warning that the multi-month foreclosure process has been initiated, were down 5 percent from the prior month. However, the 3,422 NODs delivered in May is the second-highest number on record.

NODs and NOTs were respectively up 114 percent and 187 percent from May of last year.

The accompanying graph, which adjusts NODs and NOTs by San Diego's labor force size to provide a long-term comparison of foreclosure prevalence, shows that the recent level of foreclosure activity continuest to be worlds apart from what took place during the region's protracted 1990s housing bust.

-- RICH TOSCANO

A Nerd's Eye View

Rich Toscano is a financial advisor with Pacific Capital Associates*;
he also writes about San Diego real estate at Piggington's Econo-Almanac.
Contact him at rtoscano@pcasd.com.

Talking Sewage:

 

Feds holding public hearing on cross-border sewage.

Friday, June 13 -- 3:02 pm

Aguirre on V&E:

 

The city attorney claims this and other settlements cover other pension litigation costs

Friday, June 13 -- 2:24 pm

V&E Settlement Announced:

 

The city attorney says he's settled with the city's former investigators.

Friday, June 13 -- 9:56 am


Sponsored By

MOST POPULAR STORIES:

SURVIVAL IN SAN DIEGO

Foreclosure Filings Mount in May :

 

Foreclosures up 84 percent from year earlier.

Friday, June 13 -- 3:38 pm

LETTERS TO THE EDITOR

"The System":

 

The main problem with the system is that it only encourages those schooled in schools of education to become school administrators.

Thursday, June 12 -- 6:42 pm

CAFÉ SAN DIEGO

My Responses :

 

Here are my responses to some of the comments that have been posted today.

Tuesday, June 10 -- 4:35 pm

COMMENTARY: SLOP

Raising the Roof :

 

Yes, it's time to talk about the limits to campaign contributions.

Thursday, June 12 -- 8:45 am

COMMENTARY: RICH TOSCANO

Housing Supply and Demand Improves Again :

 

Resale volume and inventories are back near their levels of a year ago.

Friday, June 13 -- 3:38 pm
Sponsored by

This Just In

Laid Off Teachers, Already Rehired, Might Have Lay Offs Rescinded:

 School board member proposes canceling all teacher layoffs, even for teachers who have already been rehired. » Dec. 4 -- 9:30 am



Sanders Vetoes Council Vote on Budget:

 Mayor says he didn't want to issue veto, but had to because city attorney failed to issue an opinion on legality of council vote.

Dec. 3 -- 8:22 pm


Earn College Cash:

 Announcing our first ever high-school essay contest.

Dec. 3 -- 6:12 pm


SURVIVAL IN SAN DIEGO

Tales from a House Hunt: Chapter V:

 'At this point, if we lose it, we know it wasn’t to be.'

Dec. 3 -- 10:43 am



LETTERS TO THE EDITOR

Lam's Dismissal Justified:

 Former U.S. Attorney's tenure was marked by unsubstantiated prosecutions and failure to protect the border.

Dec. 3 -- 6:37 pm



CAFÉ SAN DIEGO

A Taxing Question:

 Considering the potential gains, would $2.50 per gallon for gas be that bad?

Dec. 2 -- 4:49 pm



COMMENTARY: SLOP

Chula Vista Manager: Yet More Pain Could Be Coming:

 The city will have to deal with a lingering gambling problem.

Dec. 3 -- 4:05 pm



COMMENTARY: RICH TOSCANO

Unemployment Likely to Keep Rising:

 Past recessionary patterns indicate that San Diego unemployment could climb for quite a while yet.

Dec. 2 -- 9:19 pm

Copyright © 2008 voiceofsandiego.org. All Rights Reserved.