The Breakdown | Explaining Southern California's economy

Reportings: Wine health; housing prices; California bonds; Simpsons real estate

Breaking the law of supply and demand? Fewer grapes in California's wine industry, but not higher prices. And…better business? "Despite the challenges, the report says 71 percent of respondents believe the economic health of the wine industry would show improvement in the coming year." (AP)


The split between the economies of coastal and inland California is screwing up the pricing of the housing market. "In coastal areas, the state needs lower housing prices that will draw in buyers and keep them from leaving for states where housing is cheaper…But in inland areas where housing prices have dropped and left many homeowners underwater and in debt, houses are too easy to come by." (NBC PropZero)


Is education the key to a more robust recovery? "California's labor market recovery is being slowed by a serious “skills mismatch.” The sectors leading the recovery generally require higher levels of educational attainment, but residents without a college degree made up more than 75 percent of the state's unemployed in 2010." (CVBT)


Wanna buy some bonds? California is getting better rates than last year. "When it issued bonds in November the state paid an annualized tax-free yield of 4.23% on 10-year securities in that offering. This time [Treasurer Bill] Lockyer set the yield on 10-year bonds at 3.17%, more than a full point less." (LAT)


"The Simpsons" voice guys keep it all in the family, as Dan Castellaneta (Homer) sells his $5.5-million house to Hank Azaria (Moe). But…Doh! He's selling at a loss: "Public records show Castellaneta and [his wife] bought the property in 2006 for $5.75 million." (LAT)


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