Home loan failures in San Diego County continued their steady climb in January, setting records for both foreclosures and the notices of default that are the first step in reclaiming mortgaged properties.

The number of foreclosures in
the county was 1,305, up 32 percent from December and up nearly 257 percent from January 2007. Notices of
default totaled 3,109, up 21 percent from December and up 145 percent from the previous year.

http://www.signonsandiego.com/uniontrib/20080216/images/pierce280.jpg
EDUARDO CONTRERAS / Union-Tribune
Real estate agent Dave Pierce says he misjudged the market and is in default on his Torrey Highlands home. "I know about a dozen people who are losing their houses," he said.


http://www.signonsandiego.com/uniontrib/20080216/news_1n16default.html

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as expected.

Another case of more demand than the ability to pay!

What's up with multiple personalities?

It's called sarcasm. Market demand and wishful thinking (or great weather) does not keep markets afloat or magically pay ridiculous prices for houses - I've given lots of evidence of this already.

The only multiple personalities I see are the ones talking about property only losing value when it's sold... unless of course when it's not sold and needs a value reassessment for tax reasons.