Economists are predicting a steady but slow - very slow - economic recovery for Sonoma County, the Press Democrat reports. The good news: Job growth, corporate profits and housing affordability are up in Sonoma County.
The bad: Sonoma continues to boast distressed real estate, government budget cuts and unemployment still above 10 percent
In other words, plenty of folks will be considering bankruptcy, if an expected new wave of foreclosures hits. In any case, recovery won't be soon enough to save many homes already near the brink.
Moody's analyst Steve Cochrane expects the recovery to be pretty weak until 2011. But there is light at the end of the tunnel.
"I think we'll see a turnaround in 2011," Cochrane said. "It's not enough to say we're in recovery, but we'll be there soon," Cochrane said.
