Read the full article on San Diego housing here:
http://journal.firsttuesday.us/san-diego-housing-indicators-2/29246/
An excerpt:
Before end users can provide sufficient support for the housing recovery, they will need to acquire income; and that means jobs and wage increases. San Diego continues to outpace the state’s jobs recovery, which is good news for San Diego’s housing industry.
The number of individuals employed in San Diego County in 2014 saw a rapid increase of 3.3% (44,500) from one year earlier. Unlike much of the state, San Diego has far surpassed the level of jobs held prior to the 2008 recession. However, with the working-aged population increase of roughly 250,000 individuals in San Diego County since 2007, the real jobs recovery which will bring on mass wage increases isn’t expected until around 2019.
http://journal.firsttuesday.us/san-diego-housing-indicators-2/29246/
I think the self-employed are under counted in such polls.
Agreed, and when they are forecasting that ‘mass wage increases’ will happen around 2019, what evidence would pinpoint that year? Or is that just a guess?
If it’s a guess, then let’s just say that hopefully wages will improve someday.