Five years ago, Zillow predicted that the ZHVI would increase 22% by 4Q17. At the time, it seemed a bit optimistic.
Since then, the national index rose 32%, and the San Diego index rose 45%!
Currently, thirteen of the 20 cities followed in SD County are at all-time peaks!
Zillguess has the Dawghaus (a modest suburban California rambling ranch) up almost 8% for the month of January. Then predicts +2.5% for the next year. Guessing is getting harder.
A leading indicator for bumpiness to come, if not the testosteronic decay of modern civilization is the evacuation of Eddie Bauer from Southern California specifically, and it’s mortar existential shrinkage in general.
I notice they have one in Dana Point, normally too far for me, and then one in Woodland Hills which I visited for the first time the other day, giddy with high expectations. They might as well call it “eddie bauer-baby edition.” It’s a shell of it’s former glory, and damned saddening for a guy like me. And forgive me for saying that the quality of their clothes are currently unfortunate. Lame material and construction.
When I was there-and remember it’s in Woodland Hills-this little woody allen looking boomer guy had on an off orange raincoat, with the 20-something clerk exclaiming, “you look AMAZING in that raincoat! You look all ready to go!! Wonderful!!”
I just thought, “eddie, eddie, look what you’ve turned into! You used to be THE mountaineer hotspot for nature’s ass-kickers, and radical Oreganites!
And now… now, you’re a little sh*tshack in Woodland Hills serving nerds who are “gearing up” before nervously venturing into the angry maw of Lake Arrowhead.
Jim,
Would like to get your thoughts on Pacific Village. http://www.cbs8.com/story/37654114/pacific-village-controversial-rancho-penasquitos-complex-approved
How do we solve the housing “crisis”. I do think it is unfair, the city is slapping on all these constraints on Lennar. They rightfully purchased the land, and should have the right to make improvements as they see fit. On the other hand, there are a number of elderly folks and low income folks who do not have a lot of options. Displacing them without help would be horrible. Why cant the city, just make it easy to build. Build in east county where there is land. How about just east of 15, aren’t the Marines supposed to leave Miramar. Would like to get your thoughts.
How do we solve the housing “crisis”.
The government needs to get out in front of this and cause good things to happen, rather than wait to react after it’s a mess.
The less advantaged folks need to accept their fate. If you are homeless or can only afford a subsidized unit, then you should be flexible about where you get to stay. Expecting to live how and where rich people live isn’t going to be in the cards much longer.
Governments should go through every parcel they own, and re-purpose some for lower-income housing.
They should go through privately-owned parcels, and re-zone them for lower-income housing – and give tax benefits to build them out.
We should all support tent cities and hippie communes in the out-lying areas.
We should support mass production of granny flats, and encourage everyone with a decent yard to get one.
How’s that for a start? 😆