Dr. Delores Conway, director of the Casden Real Estate Economics Forecast at the USC Lusk Center for Real Estate, is quoted in the May 18, 2009 edition of MarketWatch
Ballot defeat could set back California's recovery
MarketWatch
By Laura Mandaro
...The Golden State's prospects for clawing its way out of recession next year could be pushed off -- but not derailed -- if voters reject special budget measures designed to partially bridge the state's $21 billion budget gap, according to a local economic forecaster. The state's deteriorating financial standing, which by some measures put it in league with Louisiana and South Carolina, hinges on the state government's ability to quickly cut spending if it can't get sought-after tax hikes...
...Conway says one sign of the state's health is that migration out of the state has been low compared to last recessions, such as they one that hit Southern California in the early 1990s. In the wake of big job losses in the aerospace industry, about 5% of L.A. County's population left over a period of six years, she estimates.
"It always seems so dire until people say, 'Am I going to leave this beautiful weather?'" she said...
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May 18, 2009