Wednesday, September 16, 2009

LA Times: "Southland's Vital Signs Improving"

Many indicators point to an incipient recovery in the pummeled Southern California economy reports today's Los Angeles Times.  The state's exports are increasing, tourism is up, and home prices seem to have hit a bottom.

The median sale price for Southern California homes also increased for the fourth straight month, rising to $275,000 from an April 2009 low of $247,000.

Comerica Bank economist Dana Johnson reported, "The housing sector seems to have made the huge adjustment it needed to make.  It doesn't look like there's terrible further adjustments to follow."