LA's Housing Market Up, Governor's Approval Rating Down

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Just two months ago, LA Supervisors were deadlocked on next year's budget, which could have devastated the county health system. Yesterday, they passed a new version unanimously, the first time that's happened in years. The explanation is LA's sizzling housing market, which has provided a massive windfall in property tax revenues. With economic forecasters predicting a burst in the housing bubble, how long will the good times last? We get some assessments from Supervisor Zev Yaroslavsky and social economist Christopher Thornberg of the UCLA Anderson Forecast.
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Field Poll on Governor Schwarzenegger's approval rating

Schwarzenegger's call for special election

Schwarzenegger press conference on the budget

Wildermuth's article on Governor's support, special election, budget

Anderson Forecast on economic growth through 2006

LA Times article on housing market, budget

Cosmos 1

Credits

Host:

Warren Olney

Producer:

Frances Anderton