Local Area Price Bubble and Economic Recovery Study
How does the housing price bubble for a particular public entity’s geographic area, such as a City, compare to that of Southern California, as a whole, and how is the area’s economy and housing market likely to recover relative to Southern California, considering the composition of its economic base and level of its unemployment?
Although Southern California experienced a significant housing price bubble and is expected to require several years for its housing market to recover, Empire Economics’ research has revealed that specific sub-areas, such as coastal vs. inland areas, have experienced substantial variations in the relative degrees of their price bubbles. Accordingly, for a public entity to have an understanding of specifically when its economy and housing market will recover provides critical information that can be utilized in its financial planning process.
The results of this study provide the public entity with specific information on the size of their housing price bubble as well as the strength of their local area economy as compared to Southern California, as a whole, and enable the entity to integrate these employment/housing forecasts into their financial planning.
Example:
Although Southern California experienced a significant housing price bubble and is expected to require several years for its housing market to recover, Empire Economics’ research has revealed that specific sub-areas, such as coastal vs. inland areas, have experienced substantial variations in the relative degrees of their price bubbles. Accordingly, for a public entity to have an understanding of specifically when its economy and housing market will recover provides critical information that can be utilized in its financial planning process.
The results of this study provide the public entity with specific information on the size of their housing price bubble as well as the strength of their local area economy as compared to Southern California, as a whole, and enable the entity to integrate these employment/housing forecasts into their financial planning.
Example:
