With so much of the economy pegged on housing and so much of the housing sector depending on improvement in a dim jobs picture, it is interesting for economists to predict growth in the rest of the Los Angeles economy. Especially when their bottom line sounds like this:
“A year from now, [housing] prices will be at best where they are today and in some parts of the area it will probably be a couple percentages lower,” said David Berson, vice president, chief economist and strategist of consulting firm The PMI Group.
Economists. Astrologists. Meteorologists. :)
What do you think the Los Angeles economy will look like in a year?
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