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Bubbleinfo’s 16th Anniversary

It was 16 years ago today that the blog began with this post – which still has some relevance today:

https://www.bubbleinfo.com/2005/09/24/20-25-appreciation-per-year-how-can-that-happen/

Here is a summary of where we’ve been:

https://www.bubbleinfo.com/2019/09/24/happy-birthday-bubbleinfo/

I am grateful for you being here!  We appreciate the business from readers, and your friends and family. Thank you so much!

My Workbench

From the bottom left.

If you ever get famous enough that you might need a direct line – like a batphone – well, then you need to be prepared. A solid red push button will do just fine.

The San Diego Chicken – a legend, and sorry your left hand got clipped.

Rickey!  I was at the game when he got his 3,000th hit as a Padre!

Chick, the legend. He was like a father to all of us, talking about our favorite team.

Shaq & Kobe, the duo that won three championships and could have had three more.  Between them is the golf ball I used for my only hole-in-one on a legit course in 1994.

Above is my precious two daughters in a photo I took on Esfera Drive when we lived in La Costa.  Their beauty overwhelms the wicked full moon in the background.

It’s good to have a few screwdrivers.

Attitude Is Everything

The Klinge name badge, and my grandfather’s business card with home address and phone number!

Mark Kotsay and Phil Nevin both went to Cal State Fullerton (as did Donna and I), and both were the NCAA College Player of the Year.  And they both had a great experience with the Padres!

Trevor Hoffman, the Hall of Famer.  His kids went to Cathedral when mine did and he participated like a regular guy.  He was an incredible baseball player too. Back in the 1990s he threw 95+ gas and blew batters way. But then he developed the wicked change-up that allows him to get 601 saves.

Ken Caminiti is a lesson to us all.

You always need WD-40, DeWalt drill bits, and an extra Master lock. Count on it!

Supply To Remain Low

The last time we had a big surge in pricing, the median sales price went up 100% in five years.  But that was twenty years ago when the boomers were all young enough to move frequently, causing plenty of homes to be for sale.

By now, most (if not all) of those boomers are settled in and just watching the show.

My comments then:

https://www.courant.com/sdut-housing-boomed-in-north-county-2005dec25-story.html

First American’s comments now:

Average tenure length jumped nearly 4 percent from one year ago, and 0.4 percent compared with last month. The monthly gain was the largest since August 2020. The monthly increase in average tenure length contributed to a loss of over 17,000 potential home sales. Since existing homeowners supply the majority of the homes for sale, and increasing tenure length indicates homeowners are not selling, the housing market faces an ongoing supply shortage.

Before the housing market crash in 2007, the average length of time someone lived in their home was approximately five years. Average tenure length grew to approximately eight years during the aftermath of the housing market crisis between 2008 and 2016. The most recent data shows that the average length of time someone lives in their home reached 10.6 years in May 2021, an historic high.

Two trends are locking homebodies in place and driving the increase in tenure length.

First, for homeowners with rock-bottom rates, modestly higher rates in an historically low inventory environment may disincentivize some from selling their homes, thus preventing more supply from reaching the market. Second, seniors are choosing to age in place. Analysis of the 2020 ASEC data reveals that the homeownership rate actually increased for baby boomers in 2020. While a 2019 study from Freddie Mac shows that if seniors and adults born between 1931-1959 behaved like earlier generations, they would have released nearly 1.6 million additional housing units to the market by 2018. As seniors continue to choose to age in place, there will be fewer existing homes available for sale.

Link to Article

KRG in Top 1000

That face when you find out you’re included in Wall Street Journal’s America’s Best Real Estate Professionals list for 2020!  We were one of only 92 Compass teams to be included.

THANK YOU to our team members for assisting us, our clients for trusting us, and our friends, family, and blog readers for supporting us through every step of the way!

Link to Article

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