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