San Diego Property Management: Sunny Economic Forecast
A recent report by international economic analysis firm IHS Global Insight paints a better economic picture for California than the rest of the nation. The report forecasts California’s gross state product will have a growth rate of just under three percent for the next five years. It forecasts a 2.6 percent growth rate as the national average.
Another report, by Chapman University, has California businesses hiring at a rate not seen since 2006. Both taken together posit a very strong outlook, relatively speaking, for the Golden State.
The trickle-down is that we expect the San Diego property management and housing market to continue to rebound. San Diego’s housing market felt the effects of the recession before the rest of the nation, and has already shown signs of picking up steam, again, well ahead of other top markets.
Here at Rancho Mesa Property Management, we’re more than cautiously optimistic about the local real estate market. These reports, along with the growth in San Diego’s tech and bio-tech industries (and over $1 billion in stimulus money to local universities in the last year), make the region’s forecast easy: Sunny, with hardly a cloud in the sky.