Los Angeles is the epicenter of a housing boom that’s set to push the rest of the nation into a new era of rapid expansion.

But with housing demand growing faster than wages, many economists have argued that the country could find itself in a new recession within five years.

Now a new study suggests the opposite.

The research, from the University of California at Berkeley and the Massachusetts Institute of Technology, found that California has one of the lowest unemployment rates in the country, and that many residents who were looking for jobs in recent years are finding them.

It also found that the state has a “huge amount” of unused land, which makes it easy for people to move to the state and find jobs.

The paper, by economist Adam Smith, found California’s housing supply to be the most important factor in boosting the economy, which could help boost wages.

“We’re going to have to build more housing, which is going to be very, very good for the economy,” said Peter Reuter, a senior economist at the University at Buffalo and the author of a report on the study.

The California boom has been the largest in the nation, with more than 12 million units built, and the state is now the most populous in the union.

Yet housing demand in the state continues to slow, and there’s a fear that the slow pace of housing construction could slow the economy even further.

That’s because the cost of construction is higher than in the rest the country.

The new report argues that if California were to build just 1 percent more housing over the next decade, the total cost of the economy could increase by nearly $3 trillion.

“If we were to go down by a quarter point, that would mean we could potentially see a recession within the next five years,” said Adam Smith.

That scenario is one reason that California’s budget is so fragile: It relies on a $3.3 trillion general fund, which funds state services and the police force.

The state also spends billions on roads, transit and other projects, and its economy depends on the money.

In a state where unemployment is almost double the national average, and wages are flat, many Californians are worried about their future.

And some have begun moving out of the state, which means that a lot of people are moving back.

The economic impact of the recession is already being felt, with the average price of a home in the city of Los Angeles rising by more than 3 percent in the past two years, according to real estate agent Cesar Vargas.

“A lot of my business, especially in the area around the Coliseum, is not making any money.

I can’t sell my house.

So the market is going up and down,” said Vargas, who recently sold his home in West Hollywood to raise $15,000 to buy a condo.

Vargas said he would consider selling the house if the recession hit.

And the state’s population is growing at an even slower rate than in other parts of the country: The state added 5,000 people in March, and economists expect that number to increase another 4,000 over the summer.

Some economists have called for a tax increase to help ease the pain.

But many experts also worry that if the state goes too far with its policies, California could become a magnet for foreign investors and jobs to go elsewhere.

That could hurt the state financially, too.

The study, which looked at the construction and construction jobs that have been created in California, found there was a lot more vacant land in the California region than in neighboring New York, Texas and other states.

It found that there were roughly 13 million acres of unused space in California.

The area with the most vacant land is in the central part of the county, including the city and the Santa Barbara Mountains.

The report also found the average home in California is now worth about $1.3 million, which includes the cost to purchase it and any taxes that come with it.

The median home in Los Angeles has gone up more than 2 percent over the past five years, while the median price has risen only 1 percent.

The problem for some is that many people in California are living in poverty, and many are moving away from the state because of it.

That, in turn, has hurt the local economy.

A recent report from the nonprofit group the California Policy Institute found that while California’s economy grew by about 6.4 percent between 2000 and 2010, it lost nearly 7.1 percent of its jobs.

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