 |
| VALLEY PRESS STAFF and Wire Reports |
| September
28, 2005 |
| Valley economy outstrips
nation's |
| |
| PALMDALE: The
economic strength of the Antelope Valley may protect it
from a projected sag in growth in the next few months,
thanks to a demand for affordable housing. "The
extreme north end of Los Angeles County is doing a lot
better than other parts of the country," said Ryan
Ratcliff, economist with the UCLA Anderson Forecast, on
Tuesday. |
| |
| "There is a
tremendous demand for home" in the region, he said,
but some of it is speculative and investment oriented.
Property prices have been rising at more than 20% a month
in some areas of the county, which makes that investment
very attractive. "It just blows the stock market
away" for investors, Ratcliff said. If the economy
in the rest of the state softens, it is likely that
investment in real estate will decline, affecting prices
and inventory everywhere. |