Welcome to Banning. California. The City of Banning is strategically located astride Interstate 10 in the San Gorgonio Pass. The City, incorporated in 1913, has a rich and colorful history. Initially, Banning served as a stagecoach and railroad stop between the Arizona territories and Los Angeles.
A period of general economic decline; typically defined as a decline in GDP for two or more consecutive quarters. A recession is typically accompanied by a drop in the stock market, an increase in unemployment, and a decline in the housing market.
Vicious Cycle. Once an economy slows it can affect its housing markets in a kind of harmful cycle. Economic slowdowns affect housing markets, which in turn affect the economy as housing-related activities decline and slow overal economic activity.t's an axiom in real estate that housing markets are affected by the broader economy. When economic times are good, certain parts of the housing market usually see healthy growth.