David White post

Economy getting better, even if it doesn't feel like it, says economist Photo and article by Kevin Cody, Easy Reader

LAEDC economist Robert Kleinhenz points to the recession low point in 2009.   California, here we come California clearly turned the corner in 2012, Kleinhenz said, with unemployment dropping from a high of 12.5 percent to 10.1 percent in October of this year. California's housing market, he said is "not out of the woods yet," but also on the upswing. Prices bottomed out in 2009 at a median price of about $250,000. Last October's median price was $341,370, up 23 percent from October 2011. Annualized sales, which dropped to about 250,000 in December 2007, rose to 544,380 in October 2012, which is the long term average.   Los Angeles County home sales are on the uptick, but prices remain below the historic 2006 highs. Full Article...   Source: California Real Estate Research Council: DataQuick