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TRENDS AND PATTERNS IN CALIFORNIA
CAN MACROECONOMIC FACTORS EXPLAIN
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adaptive expectation adults affordability analysis Appendix baby boomers Bay Area business cycle calculations of decennial California Metropolitan Areas California's Counties California's housing markets Central Coast Coefficient construction in California control for demographic costs decennial census data declined demand for housing demographic changes demographic composition demographic controls demographic differences economic effects estimates ethnicity expected appreciation expected inflation Figure Fresno funds homeowners household formation Householder in California householder rate model housing construction housing demand housing prices housing production housing shortage housing supply immigrants income increase Inland Empire interest rates Latino Livingston Survey lower macroeconomic factors measures median home price multifamily nation occupied housing units Orange County percent programs rates in California regions relative rents rest Sacramento Valley San Bernardino San Francisco San Joaquin San Joaquin Valley San Luis Obispo San Mateo Santa Barbara Santa Clara short-term interest rates shortfall statewide statistically significant time-series Undersupply unemployment units in California variable Ventura