August NODs for SD flat with July

User Forum Topic
Submitted by Fearful on September 12, 2008 - 9:35am

I saw a headline regarding the Inland Empire showing a dramatic spike in NODs in August. The same did not hold true for San Diego county. The NODs were basically flat with July, at 3176 versus 3206 in July.

http://www.foreclosureforum.com/stats.html

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No trend moves in a straight
Submitted by peterb on September 12, 2008 - 10:21am.

No trend moves in a straight line.

Check out the numbers for 1990 through 1997.

A global recession is at hand now. Look for unemployment to rise through 2009. Bank failures to increase. By Dec 31, most public companies will be forced to report their bad news of the last quarter and thus slam the markets down. Alt A and Prime mortgages NOD's are really starting to take-off now.
When was the last time we had a bull market in all asset classes, like we had from 2003 to 2006?
Looks a lot like a K-Wave Winter is coming.

The next leg down in RE is coming up.

Calculated Risk covered this
Submitted by LA_Renter on September 12, 2008 - 9:53am.

Calculated Risk covered this topic

http://calculatedrisk.blogspot.com/2008/...

This is not exactly good news to those people who jumped in and bought foreclosures here, this points to more price depreciation. This could also signal the next wave of foreclosures throughout all of S. Cal many have been predicting. All in all this is not a good sign.

No doubt the Inland Empire
Submitted by Fearful on September 12, 2008 - 9:57am.

No doubt the Inland Empire defaults are horrible news. However, I am puzzled why SD county did not follow.