When would be next housing Bottom?

Irvinecommuter said:
In all of TIC's plaza's...there is only one Asian market: 99 Ranch on Culver.  H Mart, Zion, Mitsuwa, Seafood City, the other 99 Ranch are all in non-TIC malls.
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The Zion on University is on TIC property.  Same with Wholesome Choice.

Also Namaste Indian Market at the Marketplace.
 
irvinehomeowner said:
Irvinecommuter said:
irvinehomeowner said:
Well... TIC added 99 Ranch before any of the non-TIC centers added their larger Asian supermarkets (except for the Indian/Persian one near Buffalo Wild Wings and a smaller Asian market that used to be in Heritage Plaza).
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Yes but that was like mid-1990s....and they also have that Indian Mart in the marketplace.

But in totality...they have ignored ethnic and young customers for a long time.
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I don't think that's an accurate statement. They weren't ignoring them, they were just waiting for more proof that the business will last. Take 85 degrees, posters here said they were turned down by TIC, but now there is one in the Spectrum (which had horrible service when I was there).

Also, based on the demographics that Kenkoko posted, seems like retail adjusted with the customer base... and it will always lag. And, if your city already has centers who will take on those higher risk businesses, then are you actually ignoring them?

DJ wasn't a hit when it first started, this stuff takes time.
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They just added the 85 Deg...like this year...10 years after DJ opened and tens of 85 Degrees opened elsewhere.  Even before coming to the US, 85 Degs was largest coffee chain in Taiwan (beating out Starbucks) with like 230+ stores in Taiwan and stores in Australia, China, and Hong Kong.  Someone with some level of insight into the Asian/Taiwan retail market would have recognize 85 Deg as a retail force especially in an area with a growing Asian population.  Nope.

What I am telling you is that many of the stores that TIC lost on were not risk...they were established retail stores with long and solid history.  TIC just didn't see it. 

Diamond Jamboree was always popular...it just didn't have the stores but 85 deg was crazy from day one as was the H Mart.
 
WTTCHMN said:
Irvinecommuter said:
In all of TIC's plaza's...there is only one Asian market: 99 Ranch on Culver.  H Mart, Zion, Mitsuwa, Seafood City, the other 99 Ranch are all in non-TIC malls.
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The Zion on University is on TIC property.  Same with Wholesome Choice.

Also Namaste Indian Market at the Marketplace.
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You are absolutely right...I forgot that they just converted the Albertson to a Zion. 

Wholesome Choice was also an OG international market.
 
I don't buy your theory that TIC didn't have the foresight to put in Asian retail.

I think they didn't want to chinkify Irvine and tried to keep it as white as possible.

But with all the new home sales, the floodgates had already opened so they finally caved and are now just following the money.
 
Irvinecommuter said:
You are absolutely right...I forgot that they just converted the Albertson to a Zion. 
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Actually, the one on University/Michelson was ethnic before that, it was Farmer's Direct.

In the Woodbridge center, TIC also tried the Korean market Assi. That is also a huge Korean brand but failed, so there was always two sides.

Irvinecommuter said:
Diamond Jamboree was always popular...it just didn't have the stores but 85 deg was crazy from day one as was the H Mart.
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And if I recall correctly, 85 didn't open in Diamond Jamboree when they first opened. DJ was dead the first few months... I remember because we could easily find parking there when it was new.
 
Speaking of when DJ first opened, why did Guppy House close and become Paper Lantern?
It always seemed packed.
 
zubs said:
Speaking of when DJ first opened, why did Guppy House close and become Paper Lantern?
It always seemed packed.
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Its been there for a while. Capital Seafood supposedly trying out  fast casual type restaurant with this theme at paper lantern!(allegedly!)
 
BlackkFever said:
I don't buy your theory that TIC didn't have the foresight to put in Asian retail.

I think they didn't want to chinkify Irvine and tried to keep it as white as possible.

But with all the new home sales, the floodgates had already opened so they finally caved and are now just following the money.
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Prejudice is an element of the lack of foresight.
 
irvinehomeowner said:
Actually, the one on University/Michelson was ethnic before that, it was Farmer's Direct.

In the Woodbridge center, TIC also tried the Korean market Assi. That is also a huge Korean brand but failed, so there was always two sides.
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Location...location..location.  Woodbridge is the least Asian part of Irvine.  Why you would put an Asian market there is beyond me. 

And if I recall correctly, 85 didn't open in Diamond Jamboree when they first opened. DJ was dead the first few months... I remember because we could easily find parking there when it was new.
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85, Guppy House, and H Mart were basically the only thing open when DJ opened.  Yes...parking was easy because there were only 3 stores open.
https://www.ocregister.com/2008/09/26/shop-doors-swing-open-at-diamond-jamboree/
 
So back on topic.

Have we:

a. Hit housing bottom.
b. Are on the way back up.
c. Will stay flat.
d. Still going to drop from here.

I should set up another poll. :)
 
Before you can start talking about this, we need to establish how far we have dropped since 2017 and 2018 to now.

Here is the redfin graph for 92620 for houses:


MEDIAN_HOUSE_SQ_FT_BY_TIME.png



It looks like there is a drop, but how much?
But honestly, if you used a marker and drew a straight line through the middle of the maroon squigglies, it looks like real estate is going up.
 
zubs said:
Before you can start talking about this, we need to establish how far we have dropped since 2017 and 2018 to now.

Here is the redfin graph for 92620 for houses:


MEDIAN_HOUSE_SQ_FT_BY_TIME.png



It looks like there is a drop, but how much?
But honestly, if you used a marker and drew a straight line through the middle of the maroon squigglies, it looks like real estate is going up.
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Yes, it does looks like it is trending upward. My other observation from outside of Redfin is the same as your graph. Its moving up ever so lightly.
 
DJ really needs to open up a entrance/exit on Jamboree. Why keep funneling cars in on Alton? Worse design ever. Always a hassle going and leaving DJ. With the addition of Hai Di Lao, I bet it's even worse now.
 
superbobbay said:
DJ really needs to open up a entrance/exit on Jamboree. Why keep funneling cars in on Alton? Worse design ever. Always a hassle going and leaving DJ. With the addition of Hai Di Lao, I bet it's even worse now.
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I think that's a City of Irvine thing...they don't allow an entrance on Jamboree. 

You can also go in on McGaw.
 
Irvinecommuter said:
superbobbay said:
DJ really needs to open up a entrance/exit on Jamboree. Why keep funneling cars in on Alton? Worse design ever. Always a hassle going and leaving DJ. With the addition of Hai Di Lao, I bet it's even worse now.
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I think that's a City of Irvine thing...they don't allow an entrance on Jamboree. 

You can also go in on McGaw.
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It was designed to maximize the traffic flows, while reduce the potential accidents from occurring. This is one of the heaviest traffic section on Jamboree as vehicles get on to the 405. It was not a flaw, it intended to saves lives.
 
Compressed-Village said:
Transactions down, yes. No surprises there.

Look at the median prices for all the zip codes of Irvine.

Heart breaking.
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Why is it heartbreaking?

Irvine 92602: $1,380,000 median, down 28.9% in a year. Price rank? 8th of 83. Sales of 123 vs. 66 a year earlier, a gain of 86.4% in 12 months.
Irvine 92603: $995,000 median, down 12.7% in a year. Price rank? No. 11 of 83. Sales of 45 vs. 54 a year earlier, a decline of 16.7% in 12 months.
Irvine 92604: $762,500 median, down 5.9% in a year. Price rank? No. 30 of 83. Sales of 44 vs. 58 a year earlier, a decline of 24.1% in 12 months.
Irvine 92606: $800,000 median, down 8% in a year. Price rank? No. 22 of 83. Sales of 23 vs. 25 a year earlier, a decline of 8% in 12 months.
Irvine 92612: $645,000 median, down 9.2% in a year. Price rank? No. 55 of 83. Sales of 71 vs. 96 a year earlier, a decline of 26% in 12 months.
Irvine 92614: $677,000 median, up 2.3% in a year. Price rank? No. 45 of 83. Sales of 34 vs. 48 a year earlier, a decline of 29.2% in 12 months.
Irvine 92618: $963,500 median, up 23.8% in a year. Price rank? No. 12 of 83. Sales of 248 vs. 356 a year earlier, a decline of 30.3% in 12 months.
Irvine 92620: $1,052,500 median, up 4.6% in a year. Price rank? No. 10 of 83. Sales of 172 vs. 300 a year earlier, a decline of 42.7% in 12 months.
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If you add up the percentages and average them out, it's only a 4.25% drop in median price... or am I doing the math wrong? This could be skewed because it doesn't take into account number of homes in each zip.
 
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