“The statewide 3.9 percent fall showed mixed results in key sectors, including construction-related spending, which jumped 18 percent. But other sectors slumped, notably restaurants/bars, down 15.9 percent, and motor vehicles/parts, down 12.6 percent — both reflecting rising energy and food costs that have sapped consumers’ wallets.
The report said sales tax revenues for the state General Fund are 7.2 percent below projections for the fiscal year ending June 30.”
“This farming community on the eastern edge of the Bay Area absorbed an outsize portion of the region’s growth during the prolonged housing and development boom, adding 40,000 residents in the past 16 years as subdivisions and strip malls overtook agricultural land. It regularly ranked among the state’s fastest-growing cities. Now, Brentwood is suffering disproportionately from the bust.
Hundreds of families have lost their homes to foreclosure since the beginning of last year, and in a sign of more to come, at least 1 out of every 16 households has received default notices.
For the neighbors left behind, the dreams of the pretty, tight-knit community that lured many there in the first place have dissolved.”