In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Thursday, July 19, 2012

LA Times: "Ports of Los Angeles and Long Beach building at furious pace"

by Calculated Risk on 7/19/2012 06:57:00 PM

Here is a sector that is growing ... expecting more imports from Asia:

From Ronald White at the LA Times: Ports of Los Angeles and Long Beach building at furious pace

At the edge of San Pedro Bay, home of North America's largest cargo complex, they're building new piers, wharves and rail yards at a furious pace ... So much construction is underway that the new facilities by themselves would move more freight than the entire port of Savannah, Ga., which ranks No. 4 among the continent's ports.
The most expensive and extensive upgrades in the history of both ports will cost nearly $6 billion.
About 640,000 people work in trade-related jobs in [SoCal] ... That's up from a low of fewer than 600,000 during the recession, but still far short of the 709,000 trade jobs in pre-recession 2007.
Earlier on Existing Home Sales:
Existing Home Sales in June: 4.37 million SAAR, 6.6 months of supply
Existing Home Sales: Inventory and NSA Sales Graph
Existing Home Sales graphs