When it comes to housing, keep big picture in mind

Economist Bill Watkins reported last week on the state of the Camarillo economy.

His well-researched report offered an in-depth look at the economic forces- both macro and micro- impacting the local economy.

For the most part, Camarillo's economy is healthy. Job growth, rising salaries and strong consumer spending, Watkins said, are all signs of a healthy city economy.

Similar to many cities throughout the state, though, Camarillo's fiscal well-being has been affected by the slowing housing market.

There's little to be said about the housing market that hasn't already been written about in hundreds of newspapers across the United States or talked about in thousands of financial reports.

What's important to remember, however, is that regardless of its cyclical nature, real estate in Southern California- especially in Camarillo- is still one of the best investment opportunities available.

The median price for a home in Camarillo sold in 1998 was $205,000, according to the report. Today, that number is $555,000. That's more than a 150 percent increase in less than 10 years.

An annual return of 15 percent is good in anybody's book.

Simply put, keep the current housing downturn in perspective. In the big picture, it's simply a temporary correction in an otherwise thriving market.