Sounds like the UT is desparate for readship. That article could represent a new low. It wasnt written by a UT reporter it was written by the former realtor/CEO of an investment group of flippers. They call me all the time trying to lowball my short sale listings and I laugh at them as I always have plenty of higher offers. They need more foreclosures/distress to stay in business and that article was as self serving as they come trying to portray a doom and gloom scenario which isnt the current reality.
In a prior thread we looked at CV prices and determined they are pretty darn close to peak prices which means very low distress. The quoted median income is a joke also as the homes werent purchased by median and below residents who comprise the renters and condo owners for the most part.
I just checked the NOD list and there are 51 on it which is hardly a tsunami. More than half are condos. About 1/4 are homes built prior to 2000. Of the homes built after 2000 with the exception of about 5, they are in the far east portion of CV (Pacific Highlands Ranch and Torrey Del Mar). There is almost no distress in the prime newer areas of CV.
Shame on the UT for exercising such irresponsility.
