The Southern California housing market: a sign of our future?

[arbusto_baboso]

A little background. My wife works for the local fire department in their admin department. Her desk is for Public Information and Building Inspection Departments.

As a result, she comes into contact with a lot of architects, planners, construction people, etc.

Overhearing a conversation the other day, she remembered the comment of one developer who said, "This area has a 10 year surplus of housing".

Crap. Recovery? Not anytime soon, I'm afraid...

[SoCalDem]

1. and many more foreclosures ahead

It's not anywhere near "done"...

[cascadiance]

2. And still too overpriced. A big reason I moved to Portland a year and half ago...

[mike_c]

3. +1

[SheilaT]

4. Not all parts of the country

have been so overbuilt. Or became so overpriced.

[okieinpain]

5. i heard a show on npr a couple of weeks ago about how people

need housing but really should not try to purchase a home, they would be better suited for renting. why not give people tax credit for rent like you do for paying a mortage. all of those empty homes could be rented out instead of waiting on someone to purchase them.

[Cleita]

6. And yet we have homeless and working poor with children who are

living in shelters and other substandard housing. What's wrong with this picture?

[Octafish]

8. It's the fault of being lazy people.

Rich lazy people and the government they own and operate.

[Cleita]

9. Hello there!

:hi:

I do have nightmares that Meg Whitman and Carly Fiorini might win. Talk about buying government.

[slackmaster]

7. New construction is only one facet of the housing market

Sales in Southern California are trending upward.

http://www.dqnews.com/Articles/2010/News/California/Southern-CA/RRSCA100713.aspx

[arbusto_baboso]

10. Yes. And they're buying OLDER homes.

I notice you make a lot of pronouncements here on DU that are totally unsupported by data. Why is that?