Valley's Economy At Rock-Bottom: Official - NBC Bay Area

Valley's Economy At Rock-Bottom: Official



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    The financial situation in Silicon Valley is at its deepest depth, according to the Santa Clara County assessor, despite the presence of juggernauts like Google.

    It has to get worse before it gets better, right? That's the silver lining in a Silicon Valley government official's statement that the South Bay's economy, often seen as a bellweather for the state's financial well-being, has hit "rock-bottom," as in cannot get worse.

    So there's that, while we're at the nadir.

    "Silicon Valley’s economy has finally hit bottom, and is showing meager signs of improvement," Santa Clara County Assessor Larry Stone said in his annual report, released Wednesday. The Bay Citizen carried this particular nugget of news.

    What's good about this is that property values have for the first time in three years increased in the South Bay, according to the report. That said, "the very small increase" signifies that the recovery is still sluggish, despite the "positive trend," Stone said.

    The bottom of the well never looked so good. Likewise, the view up never looked so bad.