1. Real Estate Forecast What’s in store for us this year? March 18, 2014

2. Welcome Thomas Francl, MBA, CNE, CMA Associate Faculty School of Business and Management

3. Introduction Dr. Michael R. Cunningham President, National University Chancellor, National University System

4. Guest Speaker Alan Nevin Director of Economic and Market Research Xpera Group

5. www.xperagroup.com UP The Next 5 Years (619) 417-1817 anevin@xperagroup.com Alan Nevin

6. www.xperagroup.com “The situation is hopeless, but not serious.” Count Leopold Bercktold - 1912

7. www.xperagroup.com Change in Gross Domestic Product United States 1988-2013 Bureau of Economic Analysis

8. www.xperagroup.com 8 Lehman Bros. Collapse Torrey Pines Bank

9. www.xperagroup.com Source: U.S Department of Labor 4 Torrey Pines Bank

10. www.xperagroup.com Economic Strength Ratings by State THE FUTURE OF AMERICA Where the Action isn’tWhere the Action is

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12. DECEMBER 2012 – DECEMBER 2013  The States% of All Job Gains  Top 15 73.0%  Bottom 15 4.3%  Bureau of Labor Statistics

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15. New Jobs Created in California 2009-2013 Torrey Pines Bank15

16. www.xperagroup.com United States  This past year, 1.15 million households were formed in the United States (twice the previous year).  6.5 million persons doubled up during the recession.  2.2 million people got divorced.  2.2 million people got married.

17. www.xperagroup.com Do you sense the air is different in the Silicon Valley? “There’s an enormous rejection of constraints.” An interview with Larry Summers in Fortune Magazine

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21. Now let’s talk real estate!

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29. Now, here’s the 2014 forecast

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31. Population growth will continue at 300,000+ New jobs will total more than 250,000 75,000 new housing units will be permitted

32. www.xperagroup.com There will be 400,000 single family homes resold Condo conversions will return, a little Foreclosures and short sales will reach new lows. Interest rates will remain low, Very low. Home prices will increase 8-10%

33. www.xperagroup.com Alan N. Nevin Director, Economic and Market Research (619) 417-1817 anevin@xperagroup.com

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35. Next Event: May 20, 2014 Ron Roberts Supervisor, San Diego County Register at: www.NU.edu/SOBM-Events