A quarterly economic forecast for the U.S. & California from Beacon Economics
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California banks increased lending by more than $19 billion from 2011 to 2012, according to Beacon Economics’ new analysis for the California Bankers Association… Read more.
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In This Edition… U.S. Forecast: Spring Is In The Air
Beacon Economics is expecting the U.S. economy to grow by 3% through 2013 with continued gains in employment – the nation has been adding over 200,000 jobs monthly for the past few months – and an unemployment rate that will drop to 7% by the end of the year… Read More.
Optimism for the rest of 2013 is being partly driven by a resurgent housing market. Home prices have been climbing at a significant pace and will continue to rise through this year and 2014, at a minimum. The reason for the jump in prices is simple—tight inventories and incredible affordability… Read More.
Beacon Economics does not believe the nation is entering another housing bubble. Rather than being overpriced, homes still appear to be underpriced from a long-run perspective. Home prices could rise by upwards of 35% or more from current levels before they would look misaligned with fundamentals… Read more.
California Forecast: Economic Recovery Stronger Than Believed
The labor market in California has hit its stride with every major region of the state and the majority of industries making a definitive turn toward job growth… Read More.
The median price of an existing single-family home in California rose 23% in 2012. Over the past 12 months, real estate has transitioned from being a drag on the state’s economic recovery to being a driver of growth. Beacon Economics is forecasting price appreciation to remain robust through 2013 and 2014 before returning to more historical norms in 2015… Read More.
Tourism remains a force to be reckoned with in California. At over 70%, California’s hotel occupancy rate far exceeds the national rate of 62%… Read More.
