Click Here to view a video from Forbes on the current economy of California.
The video states that the economy is definitely hit some bumps, but still is growing more than expected and promises growth in the near future. Exports are up, agriculture is up and the big tech industry is still putting a lot of money into R&D, and post not cutbacks in spending.
The housing market is hurt, which anybody could tell, but will not turn into a waste land, since 70% of California home owners do not have sub-prime mortgages, and he states that the “bottom fishers” are picking up these properties at a high rate. San Fransisco and San Jose still post high home prices.
Some disturbing news is that lot of jobs are being lost in the home building and financial sector in southern California, but is being offset by job growth in other areas in California.