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Las Vegas Business Press
Wednesday, August 20, 2008
California outlook is optimistic

By Ian Mylchreest
February 21, 2007

The top economist for the Los Angeles County Economic Development Corp. says our big neighbor to the west should be enjoying a "Goldilocks-ish" economy over the next couple of years, reports the Los Angeles Times.

It's the old not too hot and not too cold but there's some parts that are going to be colder than others. The film industry and, of course, the housing industry will continue to have problems and be a drag on the economy. On the other hand, tourism, aerospace and biomedicine will be the underlying strength.

The real estate problems may have a knock-on effect here. If Californians can't sell their expensive houses as readily as they want, it might slow the migration eastwards, which in turn might lower the floor on home prices here.

It's good to hear that tourism is staying strong and that most Angelenos will still enjoy enough disposable income to make the trek east to leave some of it on the tables and in the machines here. Now, if we could only fix that I-15 problem …





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