2018 Housing Prices, what are the indications?

shahshah

New member
I just wanted to see if folks had thoughts for the coming year given so many changes that are going on politically, taxes, stocks, etc making things more complicated then last year. How do folks see housing prices for 2018 in Irvine?
 
Zillow is predicting a 1.2% price gain over the next 12 months.
https://www.zillow.com/irvine-ca/home-values/

I tend to agree that prices will be limited to small increases, although I have no idea if Zillow's percentage will be right or not. 

I think upward pressure on rates will affect home prices more than anything having to do with politics or the tax package.
 
Burn That Belly said:
Why work so hard if we're all going to heaven and not a single thing we can bring with us.

Why did God work so hard to create the world if he was already in heaven?
 
What's the general consensus on pricing after Irvine is completely tapped out on vacant land for new construction (5-7 years from now?) ?  Will we see a large increase in price 1 year after as new home supply completely dries up and demand stays high, then tapering off to more modest increases in the years thereafter?

Or is the current new home inventory artificially "pulling" up the value of current owner-occupied?  And will we see the future inventory of new homes plus current owner-occupied homes outpace the demand?

Assuming no wars, crises, etc.
 
Burn That Belly said:
Liar Loan said:
Burn That Belly said:
Why work so hard if we're all going to heaven and not a single thing we can bring with us.

Why did God work so hard to create the world if he was already in heaven?

God created the world in 7 days. Most people can't even get a job in 7 days.

6 days.  He rested on the 7th  ;)
 
And here lies the problem for a lot of people. Everyone believes they deserve this or that. Who cares about saving for retirement right?  Live within your means, buy a modest home with a comfortable payment, save for the future but also enjoy the present. Don?t worry about what others think. For all you know, they are up to their eyeballs in debt.
 
Burn That Belly said:
Irvine is a brand now. It's the iPhone X. It's the BMW. It's the red bottoms. It's the A5 grade Japanese Black Wagyu.

Can we all get new haircuts so people know we're from Irvine?

1e0023783edd61931931acebabb1213a
 
Irvine is a brand? Perhaps in China. What a fucking joke. What circles do you run in that people would be impressed by telling them you live in irvine? There are tons of people with money outside of irvine. In every Orange County city. 
 
qwerty said:
Irvine is a brand? Perhaps in China. What a fucking joke. What circles do you run in that people would be impressed by telling them you live in irvine? There are tons of people with money outside of irvine. In every Orange County city.

Yeah, completely agree.  Irvine is kind of like driving a Volvo, more expensive and safe, but not impressive.  I'm sure some people that drive Volvo's think they are ballers too.
 
qwerty said:
Irvine is a brand? Perhaps in China.

Yep.  The Irvine Company advertises in China.  Any significant reduction to the inflow of Chinese money to Irvine will put a damper on new construction sales/prices in Irvine.

Kings said:
What's the general consensus on pricing after Irvine is completely tapped out on vacant land for new construction (5-7 years from now?) ?

No idea on future prices, but I bet when Irvine is fully built out is that 10 minute commute from 7 years ago that is now 20 minutes will be 40 minutes.
 
Liar Loan said:
Irvine is kind of like driving a Volvo, more expensive and safe, but not impressive.

Yah, locals know this, but foreigners don't.  They are all about that Irvine brand.
 
qwerty said:
Irvine is a brand? Perhaps in China. What a fucking joke. What circles do you run in that people would be impressed by telling them you live in irvine? There are tons of people with money outside of irvine. In every Orange County city.
+1
If it?s a brand it?s a mass market one like Michael Kors or Coach. Brands might be places like La Canada or San Marino or Newport Coast.
 
someguy said:
Yep.  The Irvine Company advertises in China.  Any significant reduction to the inflow of Chinese money to Irvine will put a damper on new construction sales/prices in Irvine.

This is actually a great point.  Once the new construction is built out in 5-7 years and those advertising dollars come to an end, will FCB's continue buying in the Irvine market or will they move on to the next city being marketed to them?
 
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