Los Angeles Times story about a shortage of homes for sale. Yesterday the San Diego Union-Tribune reported that single-family resales at nearly 7-year high last month. When it is less expensive to purchase a home than rent a comparable property home selling activity improves and housing recoveries begin which is what is happening all over Southern California.
San Diego Union-Tribune reports that mortgage defaults at 6-year low. This is good news because the number of short sales and foreclosures should also drop over time which will stabilize the residential real estate market.