East Bay EDA Winter “Regional Intelligence Report”
Regional Intelligence Report
The East Bay economy continues to move forward, though the pace of growth has left something to be desired. Still, most aspects of the regional economy are making progress from employment, to housing, to commercial real estate, to spending by businesses and consumers. The most significant strategic advantage is a discount on housing — the amount of savings that San Francisco or Santa Clara residents save by moving to the East Bay is near all-time highs. This should help to motivate new migration into the region as workers can still access jobs in the faster-growing areas to the west and south. As such, while the payroll jobs forecast calls for gradual acceleration in coming years, spending and residential real estate are forecasted to do better by comparison as East Bay residents are improving faster than East Bay firms.
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