UCLA economists issue gloomy California forecast

Housing prices will hit bottom some time next year, but the California economy will be in distress for months to come, according to a closely followed UCLA economic report scheduled to be released today. In a series of dire predictions echoed by experts throughout the state, the UCLA Anderson Forecast says that unemployment will continue to increase, consumer spending will decline and tax revenues will plummet. For the full story visit www.latimes.com/news/local/la-fi-calecon24-2008sep24,0,191956.story