Real Estate driving California economy?

"Earlier this week, the UCLA Anderson Forecast estimated that half of the private-sector jobs created in California in the last two years were connected in some way to real estate. A cooling housing market, Christopher Thornberg, a senior economist with the Anderson Forecast team at UCLA, warned, could easily stifle the state's economic expansion," according to the LATimes.

Thus, if the California real estate market cools significantly, it could also affect many jobs, causing further economic problems. Moreover, rather than just cooling the market, it could help 'pop' the so-called California real estate bubble.

Nonetheless, there were also signs that technology jobs are also picking up, which is especially important for California's economy. If job creation, outside of real estate, can grow, the California economy should be in good shape.

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