We expect a net jobs increase of approximately 1.4 million jobs in California for the year to come ...That has to be a misquote. A net gain of 1.4 million jobs would be roughly 10% growth. Surely, she means 140,000, we will see when the details are presented later this week.
More importantly, they are predicting a 2% gain in the median home price from 2010 to 2011 which is pretty modest for CAR and suggests the jobs quote is indeed a mistake. I expect median prices to be flat with some continued declines at the high end of the market that will not affect the median.