California's job growth slightly exceeded the national average over the last cycle, and its information sector performed especially well.
We discuss a recent National Association of Counties report on county economies.
Since the early 2000s, median housing costs in California have increased faster than median incomes. During the last several years, though, the gap between these two has narrowed. This overall improvement is largely attributable to falling housing costs for homeowners, while the gap between renters' incomes and their housing costs continues to widen.
2013 was the first year since 2006 in which California home prices increased significantly.
Building permits for residential construction dropped sharply after the collapse of the housing bubble. They are recovering slowly.
The 2007-2009 recession hit California very hard. Only recently—in mid 2014—did California return to the number of jobs it had before the recession.