The Friday bank failure headlines are still rolling out like clockwork. At 44 bank failures so for for 2011 so far. I suppose the good news is that the rate and number of failures is slowing. 44 failures at almost halfway through the year is on a track to be much less than last years 157 total failures and 140 in 2009. On the other hand, perhaps there are simply fewer banks to fail now.
Although headlines such as these continue to dominate the country, the southern California and San Diego real estate market is still holding relatively well compared to most of the country. San Diego continues to be on more of a stagnation if anything. The lower end of the market has continued to find a price footing around the mortgage and rent payment equilibrium. Although many real estate agents swore the bottom was in 2008, many areas have continued to see falling prices, especially the higher priced homes. We shall see now if the continued stagnation develops into a rounding bottom reversal or into another decline.
Comments(3)