PEACE IS AT HAND but Orange County...
PEACE IS AT HAND but Orange County has problems. . . . The county will be among those “hardest hit by defense cutbacks and real estate contraction,” the Bank of America noted in a statewide report out Thursday. In the 1981-82 economic downturn, real estate and defense did better than the general economy.
Downturn The number of permits issued for new housing and the number of new jobs in Orange County in 1990 fell sharply from the 1989 figures as the recession took hold. New Housing Permits ‘88: 23,500 ‘89: 16,700 ‘90: 13,500 Increase in Jobs ‘88: 31,800 ‘89: 32,300 ‘90: 6,300 *1990 figures are projections.
Source: Bank of America
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