According to a recent study, more than 25% of the homes in the county are worth less than their mortgage balance. But the highest-priced neighborhoods thus far have been spared big losses because most owners still retain equity in their homes and can avoid foreclosure.
In just two high-end communities is the number of such properties under 10 percent: La Jolla, 8.4 percent, and Coronado, 9.5 percent. However, some economists believe these and other wealthier neighborhoods are likely to see further depreciation this year even as the bottom end of the market firms up.
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Source: San Diego Union-Tribune
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