HousingEcon.com Economic Outlook Meeting Housing Rebound and Outlook Prepared for Ron Galperin, Los Angeles City Controller February 2, 2015 Prepared by.

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Presentation transcript:

HousingEcon.com Economic Outlook Meeting Housing Rebound and Outlook Prepared for Ron Galperin, Los Angeles City Controller February 2, 2015 Prepared by GU Krueger HousingEcon.com

HousingEcon.com GU Krueger President and Founder of HousingEcon.com (323) GU Krueger is the President and founder of HousingEcon.com, a housing and economic advisory firm for institutional investors, developers, builders, and state and local governments. His work ranges from project specific to strategic analysis of housing supply and demand. Before founding HousingEcon.com, Mr. Krueger was a Senior Vice President and the head of IHP Capital Partners' (IHP) Market Research. Prior to joining IHP, he was Deputy Chief Economist with the California Association of Realtors. Mr. Krueger also worked as an industry economist for the Conference Board in New York City. He has served in an economic advisory role for various Mayors of Los Angeles, the California Department of Finance, and the California State Controller. He is Past President of the National Association of Business Economics, LA Chapter, and Past Chairman of the Economic Advisory Council of the California Chamber of Commerce. He received his academic education at the Free University of Berlin, West Germany, and the new School for Social Research, New York City. Report Prepared for Ron Galperin, Los Angeles City Controller 2

HousingEcon.com PART I NEW HOUSING MARKET SUPPLY AND DEMAND

HousingEcon.com 4 Sources: US Census, Metrostudy, HousingEcon.com

HousingEcon.com 5 Sources: Metrostudy, HousingEcon.com

HousingEcon.com 6 Sources: Metrostudy, HousingEcon.com Unit Axis

HousingEcon.com PART II REJOICE: NEW HOME PRICES ARE HIGH!

HousingEcon.com 8 Sources: Metrostudy, HousingEcon.com Downtown Los Angeles

HousingEcon.com 9 Sources: Metrostudy, HousingEcon.com

HousingEcon.com 10 Sources: Metrostudy, HousingEcon.com

HousingEcon.com PART III RESALE ACTIVITY

HousingEcon.com Price Axis Sales Axis Sources: Zillow, HousingEcon.com

HousingEcon.com Sources: Zillow, HousingEcon.com

HousingEcon.com Sources: Zillow, HousingEcon.com

HousingEcon.com 15 Sources: CAR, HousingEcon.com

HousingEcon.com PART IV RENTS

HousingEcon.com

Commercial Apartment Market in Los Angeles 18

HousingEcon.com PART IV AFFORDABILITY

HousingEcon.com 20 Sources: CAR, HousingEcon.com

HousingEcon.com 21 Sources: CAR, HousingEcon.com

HousingEcon.com PART V RELIEVE VALVE

HousingEcon.com 23 Sources: DOF, HousingEcon.com

HousingEcon.com Non-Texas Metros Sending Residents to Austin, Texas the Most Between 2007 and 2011 Source: Bloomberg, US Census 24

HousingEcon.com THE END