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Housing Crash Not Likely Anytime Soon, Economist Says

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Housing Crash Not Likely Anytime Soon, Economist Says Thursday, Aug. 30, 2018 Vol. 17 No. 21 FEATURES NEWS NEWS ENTERTAINMENT Dr. Stauffer Kaiser workers Rotarians win Theatre releases turns 101 plan protest boat race 2018-19 calendar SEE PAGE 2 SEE PAGE 4 SEE PAGE 8 SEE PAGE 8 Downey Housing crash not likely anytime restaurant grades Mr Pete’s Patio soon, economist says 7811 E Firestone Blvd. Date Inspected: 8/29/18 Friday 89˚ ►ECONOMIC FORUM: The 2008 Grade: A Weekend housing crisis was created by over- at a borrowing and over-building, which is Los Pollos Glance not happening today, said economist 7940 E Florence Ave. Saturday 86˚⁰ Christopher Thornberg. Date Inspected: 8/29/18 Friday 68 Grade: A Thornberg made the comments at the Gateway Cities Economic Forum at Bob’s Big Boy Sunday 82˚ Downey’s Rio Hondo Event Center. 7447 Firestone Blvd. 70⁰ Date Inspected: 8/28/18 Saturday Grade: A By Alex Dominguez Staff Writer Wetzel’s Pretzels THINGS TO DO DOWNEY – Today’s 132 Stonewood St. economics suffer from a constant Date Inspected: 8/28/18 focus on the wrong questions Grade: A and issues, according to one economist. Ta Carbon Mexican Taqueria Financial Partners Credit 11219 Old River School Rd. Union hosted its second annual Date Inspected: 8/28/18 Gateway Cities Economic Grade: A Forum last Thursday at the Rio Hondo Event Center, Ono Hawaiian BBQ Bubble Run featuring economist Christopher 12028 Lakewood Blvd. Thornberg as its keynote speaker. California’s labor problems stem from a lack of workers, economist Christopher Saturday - Angel Stadium of Anaheim, Thornberg said at the Gateway Cities Economic Forum last week. Date Inspected: 8/28/18 8 am Thornberg set the tone early, Grade: A Not your traditional 5K. In this event, making it clear that his speech Photo courtesy Financial Partners Credit Union participants run/walk through 3 miles would not surround current Lucky Guy of fun, including colored foam. $10-$65 economic policies in Washington 12801 Bellflower Blvd. D.C. agree as a nation on what the addition of fiscal stimulus.” part of the solution. Date Inspected: 8/28/18 “It’s amazing all the things the problems were, but we Thornberg added that he “If you don’t want them Grade: A we’re not talking about because, would debate on how to fix saw no chance of recession in here…accept the fact if they of course, all our conversations those problems. Today, the the next 12 months, with a very don’t come our economy can’t Wild Berry Yogurt are wrapped around what’s partisanship, the divide between limited chance of one in the next grow fast…have the honest 130 Stonewood St. happening on a day-to-day left and right is so great that we 24 months. conversation.” basis in the White House,” said can’t even agree with what the Date Inspected: 8/28/18 Thornberg. “To think of Trump problems are.” However, addressing the Some of the consequences Grade: A as a cause is a mistake; he’s bad elements of the economy, of labor shortage include the Much of Thornberg’s speech not a cause, he’s an effect. He’s Thornberg said that “we increase of labor costs. followed a theme of “asking the Carl’s Jr. The Floaters president in large part because he are debating issues that are wrong questions,” however, “Watch the corporate profits, 9002 Firestone Blvd. Sunday - Bruce’s Lounge in Santa Fe basically rode into the office [due completely irrelevant.” he noted that “the economy is watch the Stock Market because Date Inspected: 8/28/18 Springs, 4 pm to] the incredible partisanship great” currently. “For example, we’re not that’s where it’s gonna hit,” Grade: A 70’s soul group The Floaters perform that existed prior to him even talking about under investment said Thornberg. “The other part “The economy has been their smash hit “Float On.” Plus music arriving on the stage. We have and infrastructure. We’re not of it…if you can’t hire someone, by Soto Band. $20 great for the last, four, five, six Wingstop to remember he’s a reflection of talking about rising wealth you got to buy a machine, and years. Things have been going 8558 Firestone Blvd. these underlying problems in our inequality. We’re not even that’s what’s going on.” at a very good, stable path,” said Date Inspected: 8/24/18 party.” having any serious conversation Thornberg. “This year, 2018, is Statewide, Thornberg claimed Grade: “Thirty years ago we would about healthcare cost inflation, A all of 2017’s strong economy with California to be the eighth fastest pension and entitlement growing economy in the last five reform,” said Thornberg. Max Fitness Depot years. “We’re too busy arguing about 7320 Firestone Blvd. manufactured issues that don’t “We’ve added 2 million plus Date Inspected: 8/24/18 actually exist than to actually jobs, 2.6 percent growth per Grade: A turn around and confront the year,” said Thornberg. “Our state problems that do.” output is growing faster than the Doc Popcorn national basis… Between 2012 Labour of Love Music Fest He added that while short- 251 Stonewood St. and 2016, we added 1.3 million Saturday - Bolsa Chica State Beach, term he’s optimistic about the Date Inspected: 8/24/18 FRIDAY, AUG. 24 full-time jobs. Of those 1.3 11 am to 5 pm economy, he’s worried about the million full-time jobs, 600,000 Grade: A A free music festival featuring At 3:30 pm, officers responded to the 13400 block of Barlin in regards medium term. are paying over $100,000 a year… performances by Matthew West, Jordan to a residential burglary report. The homeowner returned home and One of the biggest issues right now 18 percent of California Vallarta Supermarkets Feliz and Anchored 247. Plus food, noticed her door open and her residence had been burglarized. The facing the economy – and households make over $150,000, (Restaurant) raffles, and 100-plus vendors. suspects stole two boxes of jewelry and fled the location. Detectives currently a big misconception – compared to 11.6 percent for the 7900 Imperial Hwy. surrounds jobs. rest of the nation.” Date Inspected: 8/23/18 are investigating. “It’s not labor demand, it’s Still, Thornberg noted the Grade: A labor supply,” said Thornberg. slowdown in the rate of job Officers conducted a DUI checkpoint between the hours of 8:00 pm “The unemployment in the growth within the region, and Vallarta Supermarkets (Food and 3:00 am, on the 9900 block of Lakewood Blvd. During that time United States right now is 3.9 the related factors contributing Retail) percent…the job openings rate to it. 7900 Imperial Hwy. 1,146 vehicles were stopped. Six traffic citations were issued and five in the United States right now is “The slowing we’re seeing Date Inspected: 8/23/18 vehicles were impounded. 4.1 percent. In other words, there boils down to a lack of bodies… Grade: are more job openings than there A if you don’t have a person, you are people looking for work. We OC Vegan Fest can’t hire them, and we hit that At 10:15 pm, officers located a stolen vehicle on Firestone at the east don’t have a shortage of jobs, we Luis’ Butcher Shop Deli Saturday - 15151 Goldenwest Circle in wall,” said Thornberg. “Labor 9071 E Imperial Hwy. city limits, where a traffic stop was conducted. The adult male driver have a shortage of workers.” Westminster, 1-9 pm force is basically growing at a Date Inspected: 8/23/18 was arrested without incident. “We need to stop with the fairly slow basis.” A free plant-based foodie festival jobs conversation…we need Grade: A featuring good eats, live music, art, and Some of this issue boils workers, particularly qualified food trucks. down to homes, or as Thornberg Officers worked the Downtown area from 10:00 pm until 2:30 am. workers to fill those holes.” Luis’ Butcher Shop Deli alluded to, a lack thereof. They issued seven municipal code citations, one parking citation, and Part of the solution, 9071 E Imperial Hwy. “Everybody talks about Thornberg says, is immigrants. Date Inspected: 8/23/18 arrested a male subject for drunk in public. housing, and you should. But Grade: “If you want to debate how how we talk about it is fairly A they come to this country, who important,” said Thornberg. “It’s SATURDAY, AUG. 25 comes to this country, fine,” said not a bubble; bubbles are over- Sweet Boba At 12:35 am, officers located a stolen vehicle in the area of Gardendale Thornberg. “But in the end, the building or over-borrowing; 116 Stonewood St. Date Inspected: 8/23/18 and Barlin. The vehicle was stopped and the driver was arrested right answer is more, not less. nothing like that is occurring. Anybody who think immigrants “We need more housing, and Grade: A 5K Night Run without incident. are a problem for our economy, we’re just not building it.” Sunday - LA Plaza, 8 pm you’re out of your mind. They’re La Chiva Loca At 1 am, officers located an additional stolen vehicle in the area of 8157 Firestone Blvd. A nighttime 5K featuring both a scenic Date Inspected: 8/23/18 and historic route along Downtown Gardendale and Barlin, parked in the driveway of a residence. Officers L.A.’s bright lights. $45 Grade: A conducted a surveillance of the vehicle and later arrested the driver without incident.
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