KPCC News In Brief

Director of Ziman Center for Real Estate says there's not much help on the way for California economy

The economy has put the entire country through the spin cycle this week, and that’s left California feeling especially dizzy. Stuart Gabriel, director of the Ziman Center for Real Estate at UCLA’s Anderson School, told KPCC’s Patt Morrison that there’s not much help on the way – at least not in the short run.

Stuart Gabriel: “International trade will not be as strong as we had anticipated; consumer spending will not be as strong as we anticipated. Clearly the residential sector is weak across the board, so there are really few props, few sectors that we can turn to and look to in the current context that will be supportive of our California economy.”

Residential construction and related industries are in a slump throughout the Southland, Ziman said – especially in Orange County and the Inland Empire.

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January 2009

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