The Southern California region will continue to gradually recover from the economic downturn throughout 2003, with the weakest growth in Los Angeles County, according to a USC study released today. The USC Lusk Center for Real Estate's Casden Forecast found the growth in the region will be slow, depending on how well the national economy performs. "The other possible scenarios for the region's economy are a boom or bust in 2003, but the most likely is a choppy recovery," said Raphael Bostic, the forecast's director. Although skyrocketing home prices worry some economists, Bostic said low interest rates have essentially canceled out that increase. Growth will likely be moderate in Orange and Ventura counties, Bostic said, and the Inland Empire will show the strongest recovery.
October 10, 2002