Union Bank Economist Issues Annual Housing Update for California

  
    
  
  
    
      Union Bank of California:
    
    
      
        
          
            WHAT:
          
        
        
          Keitaro Matsuda, senior economist for Union Bank of California, 
          today released his March 2007 Economic Report focusing on the 
          California economy. This annual commentary on the state's housing 
          market, titled "What's REALLY Wrong with the Housing Market?" is 
          part of a monthly series produced by Matsuda on the California, 
          Pacific Northwest and U.S. economies.
        
      
      
        
        
        
           
        
      
      
        
          
            WHY:
          
        
        
          The March 2007 Economic Report discusses factors at play in 
          California's housing market, including:
        
      
      
        
        
        
           
        
      
      
        
        
        
          -- Slowing rates of home price appreciation
        
      
      
        
        
        
           
        
      
      
        
        
        
          -- A significant rise in mortgage default notices during the past 
          year
        
      
      
        
        
        
           
        
      
      
        
        
        
          -- Decline in new home production and the lack of housing 
          affordability in the state
        
      
      
        
        
        
           
        
      
      
        
        
        
          
            -- Stability of interest rates and the tight labor market
          
        
      
      
        
        
        
           
        
      
      
        
          
            WHO:
          
        
        
          
            Keitaro Matsuda has served as senior economist for Union Bank of 
            California since 1997. He monitors economic trends and 
            developments for Union Bank management and customers. Mr. Matsuda 
            is also a member of the economic advisory committee of the 
            American Bankers Association. Union Bank of California, the wholly 
            owned subsidiary of UnionBanCal Corporation (NYSE:UB), provides a 
            broad range of financial services to consumers, small businesses, 
            middle market and large corporations.
          
        
      
      
        
        
        
           
        
      
      
        
          
            AVAILABILITY:
          
        
        
          The March 2007 Economic Report is available upon request.
        
      
      
        
        
        
           
        
      
      
        
          
            INTERVIEW:
          
        
        
          Keitaro Matsuda is available for interviews to share his insights 
          about local, state and national economies. Please contact Katie 
          Pandes to schedule an appointment.