Tuesday, December 05, 2006

Housing Downturn Over!

The 4th Real Estate & Development supplement was released in the Long Beach Business Journal at the End of November. In the featured article in that publication Joseph Maggadino, chairman of economics at California State University, Long Beach spoke about the potential housing bubble and stated that "In the nation's economy, I think the worst quarter is behind us". This is refreshing insight compared to what we have been seeing in the media.

In surprising support, Ryan Ratcliff, an economist with the UCLA Anderson Forecast agrees with Joseph Maggadino. He states "The Los Angeles County economy has actually been doing...slightly better than I would have expected". He sites the reason as being "It's the one place in Southern California where job growth hasn't slowed very significantly, even though the residential slowdown has put a damper on construction - which has been one of the big sources of jobs for the past several years."

You Be the Judge of the Real Estate Market!