Good article. And it fits San Diego’s past markets – declines in home values when General Dynamics shut down, when the defense industry contracted in the late 80’s, early 90’s.

I suspect we’ll see some more job loss here in San Diego… The cell phone industry is getting hit hard – which effects several local employers: Qualcomm, Sony, Nokia, Kyocera, Motorola. The bio-tech is facing some stress. The real estate market decline and financial crunch doesn’t just hit banks and realtors – it hits financial planners, architects, strip mall developers, etc. The high end jobs are getting tighter here in sunny San Diego.