Reassuring local forecast for economy Bay Area’s housing market is expected to worsen this year but won’t derail overall growth
Friday, January 26th, 2007The Bay Area economy is likely to grow at a slow-to-moderate pace this year and next, the Association of Bay Area Governments said in its annual forecast, released Thursday.
Despite the softening housing market, such factors as productivity gains, a better job market, rising household income and moderate expansion of the national economy should make the local outlook positive, ABAG said.
“We expect 47,000 (new) wage and salary jobs in each of the next two years, more than we predicted last year,” said Paul Fassinger, ABAG economist and director of research at an Oakland conference presenting the forecast.




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