Beaconomics, Spring 2013

  • by BPC Staff
  • on April 10, 2013


B e a c o n o m i c s

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…
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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.

February 2009.