SAN FRANCISCO — Crushed during the recession, California’s real estate market so far has been spared from a tide of defaults on land-secured bonds — so far.

But the recent default by a community facilities district in San Diego County may raise the specter of more bad debt in the multibillion dollar market for such bonds.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.