A new economic forecast from Cal State Long Beach anticipates that the current recession will begin to lift in 2009, but will last through 2010 in Riverside and San Bernardino counties, thanks to the depressed housing market and the high rate of foreclosure.
first tuesday take: The study cited in this article shares the innate optimism that can be found in economic reports from many academics. The Inland Empire’s housing collapse took a full eight years to develop, however, and will not go away overnight, or even by 2010. A full eight year recovery is likely to be required, and since the market correction only began in 2006, we have at least four more years of slump to look forward to. 2013, not 2010 is the recovery year to anticipate when setting your business plans.
Re: “Forecast: Recession’s impact on Inland area to linger through 2010”, from the Press-Enterprise
