California’s high cost of housing and the Trump administration’s immigration restrictions threaten to slow economic growth in the state. Even so, a UCLA forecast predicts that California will outshine the rest of the country. margotroosevelt reports:
Donovan Smith, 21, middle, speaks with George Luna-Peña, right, manager for the Diversity Apprentice Program at The Broad during the St. John’s Well Child and Family Center’s job fair for Los Angeles’ transgender community at Trade Tech College in Los Angeles in March.
, the lowest rate since 1976, when the state changed its statistical methodology, adding new data to its calculations.At the same time, real personal income is forecast to grow by 2.1% and 1.9% in 2020 and 2021, reflecting a changing mix of employment in California and a tight labor market in high-wage occupations.
Falling mortgage interest rates early this year pushed up California home prices, “but did little to revitalize the real estate market,” UCLA economic report says.
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