California economists are somewhat gloomy

“Ask local economists to look into a crystal ball for next year’s forecast, and they’ll agree clouds are gathering on the horizon, as the boom in the real estate market and new housing construction seems to be reaching an end. “You feel it in the air,” said Christopher Thornberg, a partner of Beacon Economics, an economic forecasting firm, and former economist for the UCLA Anderson Forecast. “Things are starting to slow, and it boils down to real estate.” Others see reason for hope: “there will still be growth, especially in international trade, tourism, technology and professional business services, such as law, accounting and computer systems design”, said Jack Kyser, chief economist for the Los Angeles County Economic Development Corporation.”