Its May report for the four-county Sacramento region predicted sizable job growth over the next four years, along with falling unemployment. Personal incomes, adjusted for inflation, will eventually rise again at a rate faster than during the boom years, it said.
And population will increase by rates from 1 percent to 1.6 percent annually. In a region with about 2.2 million residents, that means adding 22,000 to 35,000 people a year.
Demand from those newcomers will help drive single-family housing starts from a low of about 2,000 a year in 2011 to a historically healthy level of 11,500 annually by 2017, the center predicts.
University of Pacific Business Forecasting Center, May 2013. The Sacramento Bee, June 2013