San Diego Housing Market News and Analysis

Yesterday, a McCain adviser wrote an article about how great the economy actually is:

http://preview.tinyurl.com/677nhl

Snippet:
"A housing "slump," a housing "crisis"? A "severe" price decline? According to the latest report from the National Association of Realtors, the median price of an existing home is up 8.5 percent from the low of last February. And according to the U.S. Census Bureau, the median price of a new home is up 1.3 percent from the low of last December. Home prices may not be at all-time highs -- and there are pockets of continuing decline in some urban areas -- but overall they've clearly stopped going down and have started to recover. So why keep proclaiming a "crisis" after it's over?"

Wow.

Flash forward to today: Two more investment banks go under. Honestly it's like watching someone who eats nothing but junk food insist that those pains in their chest are all psychological...