California Unemployment Rate Hits A Record 12.6 Percent
California unemployment rate
The California Employment Development Department reported today that California’s unemployment rate hit a modern record of 12.6 percent in March.
More than 2.3 million Californians remained unemployed, with 362,000 more people jobless than a year ago. California’s jobless rate grew from 12.5 percent in February after holding steady for a month. The rate was 10.6 percent in March 2009. Read more 
Real Estate New Construction Up & Down
new home construction
The Commerce Department reported today that construction of single-family homes, the most important segment of the housing market, fell. It dropped 0.9 percent to an annual rate of 531,000 units, after a strong 5.7 percent gain in February.
On the positive side, permits for single-family construction, a barometer for future activity, were up. That raised some hopes that the recovery of the housing market will stay on track and help sustain the broader economic rebound. Read more
Home Foreclosure Problems
There is a good chance that San Diego homeowners will see more home foreclosures in 2010. If the number of San Diego foreclosures is high, this could mean a further downturn in San Diego California home values.