Irvine Company Profile of Housing - May 2000

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kcmkane_IHB

kcmkane_IHB

New member
Trolling the Irvine Company "Good Planning" website tonight, I found this May 2000 publication by the Irvine Company, profiling Irvine housing at the time:

www.irvinecompany.com/aboutus/plan012345/index.htm

It is facinating how much the housing landscape has changed here in less than 8 years. In the facts and figures on pg 4 it is noted that prior year housing sales (1999) were 3,798 in Irvine (1,356 new and 2,442 resale) --- of which just 39 (!) were over $800k, and not one of those 39 was a new home. By far the biggest chunk of homes sold in 1999 was in the $200 - 300k range. Wow.

Another article I'm sure our own 'Irvine Renter' will enjoy --- if only for its title --- is on page 2: "Irvine's Renter by Choice".
 
Home price is important to a healthy housing cycle. While existing homeowners love rising real estate prices because they see their investment appreciating, if prices climb too high, the community suffers, especially impacting those looking for a first home. When first-time buyers can't afford to buy, the housing cycle collapses - a "moving up" family can't move out of their home unless they have a buyer.

Irvine is situated in what has been referred to as a job-rich environment. The city's employment areas, including the Irvine Business Complex, UC Irvine and Irvine Spectrum, generate a significant number of jobs which, in turn, creates demand for housing. This demand cannot be met entirely within the City of Irvine. Housing located in the vicinity of Irvine can and must help meet the housing needs of the local employment centers. However, the more housing choices offered to the consumer in Irvine, the better the city can respond to the increasing need for a balance between jobs and housing.

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Oh... man, the job growth has been hammered since then, and if you factor RE jobs, then it looks worse.

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Ut roh... in 2007, there was barely over 2300 total sales, let alone resales.

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Fast forward...

jobs-housing_pa_pg5.jpg


UCLA predicted 3.6% job growth over the next two years. Oops, they really should not have Thornberg go, as it was a dismal 2.3%.Oh... but don't worry, the civilian labor force increased by 1.8% in that time.

Another one, that I could rip apart. Brenster... put the Kool-Aid pipe down, if you don't, you will start to look like the Tan Man.
 
G, the link takes me to the IC website, but there is no story...just the IC header....and blank. Do you think they saw this and removed the content ? LOL !
 
Liz, I'm guessing tons. They probably appreciate the anonymity and are happy to have a place where they can speak the truth..
 
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