Hopes for housing recovery

SANTA CLARITA - The Santa Clarita Valley housing market should recover by next summer, an economist told local business leaders Thursday.

Mark Schniepp, who heads the Santa Barbara-based California Economic Forecast, delivered that message to a room full of business leaders, Realtors, commercial real estate brokers and developers at the Hyatt Valencia ballroom Thursday morning. Jerry Berrios in the Daily News.

"That housing recovery will start to boost economic growth," Schniepp said before his presentation. "No longer will it be a drag on the Santa Clarita Valley economy and it will start to lead this area as well as the rest of the nation out of recession."

Schniepp spoke at the 2009 Real Estate & Economic Outlook conference, sponsored by First American Title. The Daily News was the event's media sponsor.