The latest San Diego MarketWatch is available for you to read. Below you will find a compilation of important real estate news that may affect you.

Consumers curtail car purchasing, focus on discount shopping

Associated Press, May 14, 2008

Car purchases dipped in April, but spending in several other sectors was up, which is reflective of the economy's resilience in spite of soaring gasoline prices. The Commerce Department reported that retail sales dipped by 0.2 percent overall in April, though a large amount of that softening stemmed from a 2.8 percent decline in car sales.
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Foreclosure Sales in California Exceed 1,000 a Day

East Bay Business Times, May 13, 2008

In April, the number of foreclosed single-family homes sold at auction topped 1,000 properties a day.
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Governor Drops Threat to Suspend Proposition 98, Schools Spared Worst

Contra Costa Times, May 14, 2008

Governor Arnold Schwarzenegger dropped his threat to suspend Proposition 98, which guarantees funding for education. Under the revised budget cut, school districts would not receive extra money to pay for rising costs in employee compensation and utilities, which would have resulted in cuts to services.
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Washington Mutual Inc. Reduces Home Equity Credit

Sacramento Business Journal, May 16, 2008

WaMu has cut or suspended $6 billion in available home equity credit to its customers. The decision was made in an attempt to reduce the company’s risk in a turbulent housing market.
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April Housing Posts Surprising Rebound

Associated Press, May 16, 2008

Construction of new homes recorded the largest rise in more than two years in April, a spot of good news amid the worst downturn in housing in more than two decades. The Commerce Department reported Friday that housing construction rose by 8.2 percent in April to a seasonally adjusted annual rate of 1.03 million units. Building of single-family homes continued to weaken, however. The growth came from a big jump in apartment construction.
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S.D.’s Credit Rating Restored

UNION-TRIBUNE, May 15, 2008

Standard & Poor’s has restored the city’s credit this past Thursday.
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Feds Will upgrade in San Ysidro

UNION-TRIBUNE, May 15, 2008

Federal officials announced that rather than build and operate a facility in Mexico, they will upgrade their wastewater treatment plant in San Ysidro.
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San Diego Outranks Seattle and San Francisco as Most “Digitally Savvy”

UNION-TRIBUNE, May 15, 2008

According to a recent survey that measures the concentration of tech users, San Diego ranked as one of the nation’s four most “digitally savvy” cities.
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City to Use State Bond Funds for Street Repairs

UNION-TRIBUNE, May 15, 2008

Local residents may soon get some relief from poor city street conditions. The city expect to receive approximately $21 million in state bond money to spend on road improvements.
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Height-limits Draws Bitterness

UNION-TRIBUNE, May 15, 2008

A height-limits initiative has drawn opposition from Chula Vista residents and sparked talks about future development in the city.
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Hotel Expansion Plans Receives Complaints

UNION-TRIBUNE, May 15, 2008

An earthquake fault beneath the Hotel del Coronado has spurred expansion plan changes, as well as complaints from some city residents.
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