Richard Green is a professor in the Sol Price School of Public Policy and the Marshall School of Business at the University of Southern California.
This blog will feature commentary on the current state of housing, commercial real estate, mortgage finance, and urban development around the world. It may also at times have ruminations about graduate business education.
Monday, June 29, 2009
Identification Problem
Traffic has been moving remarkably smoothly on the 110 Freeway for the past week or so. Is it summer? Unemployment? Gas north of $3 per gallon? It seemed before that $4 was something of a magic threshold.
My experience only refers to the SF Bay Area, but I expect you can extrapolate it to LA.
The Oakland Bay Bridge also is experiencing much lower traffic than ususal over the past couple of weeks. Having traveled that bridge for 20 years now, I believe it is a combination of a slower economy coupled with workers taking vacation. It will likely continue through August.
In the dot com boom, there was no relief of the horrific traffic approaching the bridge during the summer of 2000. Alternatively, morning traffic was virtually non-existent during the summers of the early 90's when California was experiencing a debilitating recession.
Re/Max says Kelowna Real Estate sales next year will climb by 2% while the average sale price across the country will rise to $325,000 for a 2% increase.
My experience only refers to the SF Bay Area, but I expect you can extrapolate it to LA.
ReplyDeleteThe Oakland Bay Bridge also is experiencing much lower traffic than ususal over the past couple of weeks. Having traveled that bridge for 20 years now, I believe it is a combination of a slower economy coupled with workers taking vacation. It will likely continue through August.
In the dot com boom, there was no relief of the horrific traffic approaching the bridge during the summer of 2000. Alternatively, morning traffic was virtually non-existent during the summers of the early 90's when California was experiencing a debilitating recession.
my 2 cents.
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Re/Max says Kelowna Real Estate sales next year will climb by 2% while the average sale price across the country will rise to $325,000 for a 2% increase.
ReplyDelete