Economists: coastal regions better than inland, but state faces exodus
Inland and coastal California might as well be two different worlds — at least that’s the view of California Lutheran University real estate economist Kirk Lesh.
Lesh and the rest of CLU’s forecasting team presented their first economic prophecies for the new year at a March 24 event at the Thousand Oaks campus.
Lesh said that commercial markets in coastal regions of the state can expect to recover sooner, although the turnaround will continue to be measured. “Historically low lease rates, the availability of prime space and a better perception suggest that coastal California is posed to recover first,” he wrote in an embargoed report released prior to the event.