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PSAR members hear housing market forecast

posted Feb 23, 2016, 1:13 PM by Joyce Evans   [ updated Feb 24, 2016, 12:07 PM by Richard D'Ascoli ]
Pacific Southwest Association of REALTORS® (PSAR) members heard insight and expert analysis about the housing market at the today's 2016 PSAR Housing Market Forecast. Alan Nevin, director of economic and market research at Xpera Group, discussed how San Diego’s demographics are impacting job growth, which job sectors are growing and the future of San Diego’s housing market.
“There are amazing opportunities available for San Diego County with our substantial number of economic drivers, including the military, manufacturing, high-tech, bio-med, import-and-export and tourism,” Nevin said. “It is the diversity of the economy that will result in continuing employment stability, particularly in the job sector that requires math, science and people skills.
“The only weakness in the San Diego economy is the inability to produce housing for the 12,000-plus households that are formed each year. It is unfortunate that the local governments appear to do everything possible to drive up the cost of housing, including obnoxious development fees and zoning that relates to ‘Leave it to Beaver’ days when everyone had a single-family home on a large lot.”
Nevin also told PSAR members, “The housing shortage is abetted by a number of state and federal laws and regulations that drive the cost of production without recognizing the unintended consequences of those regulations.”  
Nevin also discussed his new book, “The Great Divide.” The book delves into anticipated changes in the U.S. during the next quarter century. In the book, Nevin delves into the U.S. states, including California, expected to have the greatest economic growth and produce the most jobs. He said the nation is divided into two types of states: those that are going nowhere fast and those that are leading the way. He said 15 of the 50 states will be responsible for 75 percent of the population growth and 75 percent of the new jobs created over the next 25 years.
“As you might expect, California is one of the lucky ones,” he said. “Now approaching 40 million people, California has more people than Canada and gains more than 3 million people each decade. That’s like adding one San Diego County every 10 years.”

Alan Nevin 2016 PSAR Presentation

Here is a copy of of Alan Nevin's Presentation. (PPT)  Here is a copy in Adobe Acrobat

Richard D'Ascoli,
Feb 23, 2016, 1:40 PM
Richard D'Ascoli,
Feb 23, 2016, 1:38 PM