San Francisco’s economic picture looking brighter
From today’s Examiner, “After the long hangover of the dot-com bust, San Francisco’s economy is once again picking up momentum and should continue to grow through 2006.”
“Propelled by a revitalized tech sector led by companies such as Google and growing markets in India and China, forecasts of the local economy based on reports by Newsom, Oakland Mayor Jerry Brown and economists were cautiously optimistic at the annual Mayors’ Economic Forecast held Friday.”
“Newsom said since he took office two years ago the unemployment rate had declined from 7.1 percent to 4.8 percent, 37 companies had relocated to The City and hotel occupancy has climbed 14 percent.”
“…the panic about a housing bubble is unwarranted, even though home sales dropped 14 percent in November. [An economist] believes there will be a soft landing in the housing market.”
