I too agree that the foreclosures will cause a lot of short term pain, but we will have a healthier and better local economy when people are only spending 30% or less of their income on housing, and the rest is either saved or spent in the community. San Diego employeers will have a much easier time attracting workers too.
Funny how affordable housing is supposed to be a good thing until all houses are suddenly getting more affordable at the same time.
