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Analyst Delivers Mixed Economic Message to SCAG

economic forecast housing NY-Cal SCAG Southern California US Yorba Linda

Analyst Delivers Mixed Economic Message to SCAG

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A business representative has delivered a mixed economic forecast to members of the Southern California Association of Governments (SCAG) at the group’s current two-week session. Randall Lewis, a non-voting member and business representative on the council who specializes in real estate, recently gave his regularly scheduled economic assessment to the group, which members say provides accurate information for planning. Lewis told the group, which is holding virtual hearings through Jan. 22 to consider state-mandated housing allocations throughout the region, that many small businesses are likely to go under soon. “The big story on closings is going to be the small independent retailers and restaurant owners,” Lewis said. “And we expect that we’re going to see a significant number of them throw in the towel in February, March, and April.” He also told members that while the office retail market was likely to rebound, an increasing number of small business owners …

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