Daily Business Report: June 29, 2026
Academic turf war between California colleges underscores need for new higher education plan
By Dan Walters | CalMatters
When the Legislature passed the Master Plan for Higher Education in 1960, it envisioned a seamless, three-level system that would provide high-quality and low-cost instruction benefiting both those seeking careers and society as a whole.
Under the plan, community colleges would specialize in preparing students for transfer into the University of California and California State University, plus offer vocational and adult education classes.
The state university system would offer bachelor and master’s degrees in education, engineering and other professional fields. The UC would be the venue for research and award not only bachelor and master’s degrees but doctorates.
Why Latinos are California’s best hope for a sane housing market
By Joel Kotkin | New York Post
Californians rank housing as their biggest concern — and Sacramento politicians seem determined to keep it that way.
To be sure, there are much-hyped new bills meant to speed up new construction — but they favor high-density around transit stops while imposing taxes on homes in places where people have to drive to get around.
Gov. Gavin Newsom, who bought a new $9 million house in 2024, claims to be taking bold steps to address the state’s miserable housing crisis, but with laughably poor results.
UCLA Anderson Forecast Says Oil Shock Has Replaced Tariffs as Leading Risk to U.S. Economy
by UCLA Anderson Forecast
The June 2026 UCLA Anderson Forecast for the U.S. and California finds the economy confronting another inflationary shock, this time driven by the war in Iran and the closing of the Strait of Hormuz. After tariff-driven inflation appeared to peak and the labor market began to stabilize, rising energy prices have created a new source of pressure on households, businesses and the Federal Reserve.
The national economy remains relatively resilient, but the Iran-related oil shock has replaced tariffs as the major inflation threat. GDP growth is now expected to hold at roughly 2.1% in 2026 rather than accelerate; inflation is forecast to peak at 4.5%; and unemployment is expected to rise only modestly to 4.5%. The key forces offsetting the oil shock and tariffs are investment in artificial intelligence, tax cuts and earlier fiscal support.
In California, the same energy shock creates additional pressures because of the state’s specific low-emissions gasoline requirements and the importance of ports and logistics to the state economy. California continues to outpace the U.S. in output and income growth, but its labor market remains weak, and the employment recession described in prior Forecast reports is expected to continue through the third quarter of 2026.
