3 possible threats to the SD housing market
Lily Leung, U-T SAN DIEGO
Monday, June 25, 2012
2) Slowed job creation. "2012 has kind of stalled, lagged a bit," said Kelly Cunningham, economist at the National University System Institute for Policy Research. San Diego County added 12,400 jobs in May compared to the same time a year ago. Since the recession, the local economy has added a total of 40,000 jobs, so at May's pace, it will take about five years to return to the pre-recession peak of 100,000 jobs, Cunningham said. Technology and biotech, traditionally the sturdiest and most high-paying sectors, are starting to encounter some struggles with hiring and financing, Cunningham added. A key issue is that the county has turned into a two-tiered jobs structure of higher-paying jobs and lower-paying jobs without much of a middle.