Arnold Schwarzenegger, Governor of California, thinks that his state will come out of the housing slowdown in 2009. The state has been one of the worst hit by foreclosures and subprime lending as speculators drove prices up to the stratosphere.
Now the Governor expects the rebound to be fully in effect by next year.
“We just have to wait until we grow our way out of the situation, and I think by next year, we will grow out of it,” Schwarzenegger said in an interview on NBC News program “Meet the Press.”
Schwarzenegger said he was shocked by the speed of the subprime mortgage crisis that froze financial markets last summer and has yet to clear up.
He said the turmoil erupted shortly after economists had assured him that the California economy and the national economy would stay on a strong growth path. via MarketWatch.
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This man was the worst choice for Gov. in my opinion, he has done nothing to help the state and will continue to do the same for as long as he is in office.
This is a very interesting article. Well written. I'm always very interested in the state of the Real Estate Market in California.
Chris Carter
eVolV equity
Wron, wrong, wrong he was. Maybe CA needs a Gov with better forecatsing ability
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