San Diego Real Estate Blog

San Diego Had Their Share of 2.3 Million Foreclosure Filings in 2008

The foreclosure filings rose 81% nationwide in 2008 and 2.3 million homeowners received a foreclosure or auction notice in that year. The 2009 foreclosure filings should be as gloomy or even more gloomy than 2008. This data is from RealtyTrac Inc. and shows the dire reality of how many families are loosing their homes. There was 1 in every 54 households that received either a foreclosure or auction filing. 2009 should bring more bad news in the mail for many homeowners struggling to make their house payments. Many are just throwing up their hands and walking away. The economy now in a recession won’t help matters and with the unemployment rate on a sharp incline it will only fuel this foreclosure pattern.

Homeowners in San Diego have been hit with some of the highest foreclosure rates in the country. The past real estate boom in San Diego is now in complete coloration to the downturn that has San Diegans feeling blue. San Diego has always been known for the great weather and sunshine which is free. This is a bright side to the malaise that has gripped most areas of the country in that San Diego is a great place to live whether you own or rent. It is still truly Americas Finest City ….. it’s just a little more affordable. O.K. a lot more affordable.