Business Journal: Report Says No Recession In Sight
The UCLA economic forecast for California says the slowdown in home sales won’t cause a recession.
Wednesday, December 7, 2005
The sales of new and existing homes in the Sacramento region have slowed … as in most other metro areas … but the annual UCLA Anderson Forecast doesn’t see this leading to a recession … either nationally or in this state.
Their economists see a slowdown in new home construction in California through 2007 … and some jobs disappearing in that sector and in related fields of finance, like home mortgages. This will dampen growth, say the UCLA forecasters, and they believe consumer spending will slow.