It’s been a LONG four years for a lot of people. The first “early warning sign” was construction workers getting laid off of job sites in the summer of ‘o6. That was also the last year we DIDN’T see an increase in the delinquency rate in San Diego County, until now.
Roger Showley of the Union-Tribune wrote about some postitive news recently, showing stats that the there was a drop in delinquencies in Q1 in San Diego County, and no change from March to April. There was also the good news that California’s delinquency rate dropped slightly during the same period.
In a related article, Showley also reported that defaults were down in April, to their lowest level since January. An interesting stat showed that while defaults increased in 14 neighborhoods, they decreased in 71 areas. Many of the areas that saw increases were higher end neighborhoods.