WTF? UCLA: O.C. home prices to rise 35%

2

25inirvine

New member
http://lansner.ocregister.com/2011/11/04/bought-a-home-in-06-prices-still-down-in-17/142813/

Granted, I already know from the IHB days that many of you (myself included) don't put much stock in this, especially Graphrix, but still thought it was worth posting.

And here is their track record:
[url]http://lansner.ocregister.com/2010/10/27/ucla-o-c-home-prices-to-surge-49/86028/[/url]

"Orange County will have a half-million-dollar housing market again by 2012, and home sales volume will rebound by a whopping 43% over the next two years, according to the latest UCLA Anderson Forecast for the O.C. housing market."

http://lansner.ocregister.com/2009/10/29/16-percent-gain-forecast/41779/

"Double-digit housing appreciation will return to Orange County next year (2010), with the median home price rising somewhere from 15.9% to 16.6%, UCLA economists forecast in a report released today."

Do these people keep their jobs when they are so off?

I should add I got this link from googling our latest realtor addition.
 
26inirvine said:
http://lansner.ocregister.com/2011/11/04/bought-a-home-in-06-prices-still-down-in-17/142813/

Granted, I already know from the IHB days that many of you (myself included) don't put much stock in this, especially Graphrix, but still thought it was worth posting.

And here is their track record:
[url]http://lansner.ocregister.com/2010/10/27/ucla-o-c-home-prices-to-surge-49/86028/[/url]

"Orange County will have a half-million-dollar housing market again by 2012, and home sales volume will rebound by a whopping 43% over the next two years, according to the latest UCLA Anderson Forecast for the O.C. housing market."

http://lansner.ocregister.com/2009/10/29/16-percent-gain-forecast/41779/

"Double-digit housing appreciation will return to Orange County next year (2010), with the median home price rising somewhere from 15.9% to 16.6%, UCLA economists forecast in a report released today."

Do these people keep their jobs when they are so off?

I should add I got this link from googling our latest realtor addition.
Click to expand...

Everything the forecaster's (Mark Schniepp) said over the last 4 years have been proven false..
copied from some internet link:

9/7/2007: An economic recession could occur if there are widespread layoffs and the economy slows down, but that is not very likely, Schniepp said.

9/7/2007 ?The subprime problem is not going to be a big issue going forward,? Schniepp said.


So I think he meant the home prices to DROP 35% by 2016.
 
I will say this:

1. The OptionARM Explosion didn't really blow up as much as people thought because interest rates dropped.

2. The Shadow Inventory Tsunami seems to be just small waves of foreclosure inventory.
 
irvinehomeowner said:
I will say this:

1. The OptionARM Explosion didn't really blow up as much as people thought because interest rates dropped.

2. The Shadow Inventory Tsunami seems to be just small waves of foreclosure inventory.
Click to expand...

But there are zero evidence that the home values are heading for huge appreciation over the next few years. Most evidence points to neutral or slow decline.
 
The Motor Court Company said:
irvinehomeowner said:
I will say this:

1. The OptionARM Explosion didn't really blow up as much as people thought because interest rates dropped.

2. The Shadow Inventory Tsunami seems to be just small waves of foreclosure inventory.
Click to expand...

But there are zero evidence that the home values are heading for huge appreciation over the next few years. Most evidence points to neutral or slow decline.
Click to expand...

Not to mention the October numbers are already out and OC got hammered.
 
The Motor Court Company said:
But there are zero evidence that the home values are heading for huge appreciation over the next few years. Most evidence points to neutral or slow decline.
Click to expand...
I'm not claiming any short-term huge appreciation... I'm just saying that it wasn't the instant destruction that many of the uber-bears were claiming would happen, specifically in Irvine.

Irvine was were supposed to be at 1999 (non-adjusted) prices by now. I don't even think we'll get there in 2 to 5 years (if ever).
 
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