PSAR members filled a packed room at the South County Service Center in Chula Vista to hear “2016 Economic and Housing Market Update,” a presentation from Leslie Appleton-Young, vice president and chief economist for the California Association of REALTORS® (C.A.R.).
Appleton-Young told PSAR members that the risk of a recession for the U.S. economy is low. That’s because there’s strength in current economic fundamentals, including positive job and income growth, low mortgage rates, and household formation is rebounding. “And, yet, on the other hand, housing inventory is low, boomers are not moving, the share of first-time buyers is low and affordability-constrained millennials are looking outside California,” she said.
Download a copy of Power Point presentation in PDF form here