Jon Lansner
@jonlan
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Business Columnist for O.C. Register/Southern California News Group.
Orange County, CA
Joined April 2008
This number amazes me: US homebuying pace, sales as a share of households, is at a 40-year low. Sounds kinda like a “crash” to me! (cc: @JohnWake @NewsLambert @mikesimonsen)
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To honor my 38 years with the Orange County Register, and to help stir the pot, I offer up 38 housing questions that contemplate California housing’s puzzle.
ocregister.com
It’s not a quiz. Nor some wish list. Simply, food for thought.
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What occurred on Wall Street after stock commissions were deregulated suggests possibilities for massive changes for house hunting as Realtors alter commission payments.
ocregister.com
Almost a half century ago, the New York Stock Exchange was forced to change how brokerages were paid for stock trades.
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Not everyone wants lower rates! Think about 1-year Treasury yields & savers: the past year’s rates are the highest since 2000.
ocregister.com
Last year’s 5% 1-year Treasury rates were the highest since 2000.
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Interesting NY Fed research on “lock-in” debate: “most homeowners in our survey do not seem to be making their moving plans based on mortgage rates.” (cc:@JohnWake @NewsLambert @mikesimonsen)
libertystreeteconomics.newyorkfed.org
The authors utilize SCE Housing Surveys to estimate the extent to which mortgage rate lock-ins are suppressing homeowners’ moving plans.
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Regional home-price variances are normal. Since 1975, on average 20% of the US metros tracked by FHFA indexes had a loss in a year. What’s an outlier? Near zero 2021-22 and 8% last year. (cc: @JohnWake @NewsLambert @mikesimonsen)
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RT @JournoBrooke: Our @jonlan reports on another victim of the green-vehicle slump, as a Jurupa Valley bus factory responsible for providin….
pressenterprise.com
The ENC bus business and its plant in Jurupa Valley will close by year’s end.
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RT @JohnWake: Wow!. "Arizona attorney general sues RealPage, landlords; accuses them of conspiring to illegally raise rents"..
azfamily.com
The suit alleges that landlords conspired with RealPage and used that information to conduct a price-fixing conspiracy.
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Yes, we’re safe. Good day to put the trusty spreadsheet to weather work!
ocregister.com
The median rainfall at 61 measurement sites was 5.15 inches with 14 collections topping 6 inches.
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RT @AnaheimDucks: A terrific player, teammate and person from the moment he arrived in Anaheim. Thank you for everything, JD. Best of luck….
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California homebuying has never been slower. The 259,100 existing single-family sales in 2023 broke previous bottom of 290,500 in pre-Great Recession 2007.
ocregister.com
The year’s 259,100 purchases broke the previous bottom of 290,500 in 2007 as that bubble burst into the Great Recession.
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In 2006-07, California home sales fell by half tho prices rose 5%. In 2022-23, sales fell 40% and prices rose 4%. I don’t want to say what happened in 2008-09, but curious historical symmetry. (cc: @NewsLambert @JohnWake)
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5.2% of California rentals were empty in November, the highest vacancy rate since March 2021.
ocregister.com
Statewide, 5.2% of rentals were empty in November, the highest vacancy rate since March 2021.
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In 2017-22, California’s single-family rentals dropped by 81,548 units, says Census data. That’s 2nd-largest dip among the states and 11% of 742,000 decline nationwide.
ocregister.com
Renters in 1-family residences fell by 4% in five years.
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Ponder Laguna Niguel’s ‘Ziggurat’ and any possible historical worth or some sentimental value. But the property seems headed for a date with a wrecking ball.
ocregister.com
A new buyer isn’t required to preserve the beige, million-square-foot office property designed by famed architect William Pereira.
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California's 2022 immigrant inflow approximates the population of Simi Valley or Clovis and is on par with California’s combined arrivals from Texas, Washington, New York, and Florida.
ocregister.com
No state took in more immigrants as roughly one of every eight arrivals from other nations in 2022 ended up in the Golden State.
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California’s No. 1 draw is Texas with 42,279 residents moving to the Golden State last year. Lowest? West Virginia lost only 42 residents to California, yes, 42.
ocregister.com
West Virginia lost only 42 residents to California. Yes, 42.
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What if the nation’s official price tracker, the Consumer Price Index, was used as a bargain-hunting gift-picking tool?
ocregister.com
What if nation’s official price tracker was used as a bargain-hunting tool?
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