During the 1990's, San Diego was one of the hottest real estate markets in the nation. Lately, it has led the nation in the real estate slump. Apparently, local economists see a serious risk of a spillover effect.

"Job growth has nearly ground to a halt in San Diego County, raising the risk of a recession later this year, two economists who track the local business climate said Friday....the worst job growth we've had since '93, said Kelly Cunningham of the San Diego Institute for Policy Research....The culprit is real estate"

From the North County Times

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