{"id":1063,"date":"2007-02-21T21:48:58","date_gmt":"2007-02-22T04:48:58","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1063"},"modified":"2007-02-21T21:48:58","modified_gmt":"2007-02-22T04:48:58","slug":"california-is-still-the-golden-state","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1063\/california-is-still-the-golden-state\/","title":{"rendered":"California is Still The Golden State"},"content":{"rendered":"

Everyone loves to point to California as the prime example of the excessive greed of the recent real estate boom. Media, bubble bloggers, and pundits predict that California will plummet to new lows and bring on a lengthy recession akin to the Great Depression. Even home-grown and respected PIMCO of Newport Beach predicts a heavy fog<\/a> for the state’s real estate forecast.<\/p>\n

Here are a few snippets about the “rising” real estate boom extracted from the Kiplinger California Newsletter<\/a>:<\/p>\n

Evanisko Realty and Investment plans an urban living project with 58 loft-style condominiums targeted at young professionals. The North Hollywood (NoHo) project will be called 4900<\/a> and is a conversion from an old theater and auto parts store.<\/p>\n

OWR Development is planning 3000 The Plaza, a 200-unit condo tower<\/a> project near the John Wayne Airport in Orange County. This is the first “urban living” high-rise project in Orange County.<\/p>\n

Summerhill plans an urban living condo project at the site of the former Lou’s Village<\/a> in San Jose. They plan 95 units with 10% of the units having a live-work capability. They expect the price point to be in the mid $600,000 range.<\/p>\n

The Sheraton Palace Hotel in San Francisco plans to build a 60 story condo complex<\/a> ON TOP OF the hotel. There will be over 250 units.<\/p>\n

The Towers on Capitol Mall<\/a> in Sacramento is a 53 story mixed use project with over 750 condos, a four star hotel, and retail space.<\/p>\n

The Downtown San Diego condo boom may be over but don’t tell it’s little neighbor to the south, National City. The little municipality plans over 4000 units<\/a>. Prices could be as low as under $200,000.<\/p>\n

How can this development persist in a real estate market that all experts predict to plunge? The simple answer is that demographics are on California’s side:<\/strong><\/p>\n

1- Population still grows here statewide at a 1.5% annual clip. Now that may seem like anemic percentage growth compared to Nevada and Arizona but look at the astounding number of people moving to the Golden State. California enjoys a net gain of some 700,000 Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Everyone loves to point to California as the prime example of the excessive greed of the recent real estate boom. Media, bubble bloggers, and pundits predict that California will plummet to new lows and bring on a lengthy recession akin to the Great Depression. Even home-grown and respected PIMCO of Newport Beach predicts a heavy […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-1063","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2064,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2064\/sub-prime-mortgage-crisis-caused-by-unexpected-success\/","url_meta":{"origin":1063,"position":0},"title":"Sub Prime Mortgage Crisis Caused By Unexpected Success","author":"Brian Brady","date":"October 19, 2007","format":false,"excerpt":"Sub prime mortgage are defaulting at record proportions.\u00a0 Lenders are closing their doors and confidence is waning on Wall Street. 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Of course, CAR is going nuts.\u00a0 Amy Steele reports via ActiveRain.com: AB\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18710,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/18710\/2023-housing-bubble-or-2024-real-estate-boom\/","url_meta":{"origin":1063,"position":3},"title":"2023 Housing Bubble or 2024 Real Estate Boom?","author":"Brian Brady","date":"May 15, 2022","format":false,"excerpt":"Zillow \"creates\" digital home valuations and The Fed \"creates\" digital currency so it's not like we are dealing with credible institutions BUT: The Dallas Fed is worried that housing is overvalued. Our evidence points to abnormal U.S. housing market behavior for the first time since the boom of the early\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2874,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2874\/as-california-goes-so-goes-the-nation\/","url_meta":{"origin":1063,"position":4},"title":"As California Goes, So Goes the Nation","author":"Sean Purcell","date":"April 1, 2008","format":false,"excerpt":"Sometimes local news is national in nature.\u00a0 This is often true when it comes to California.\u00a0 With such a large population and a history of \u201cactive\u201d politics, many of the laws and regulations that California passes eventually migrate to other states; sometimes this is reminiscent of a rainbow spreading across\u2026","rel":"","context":"In "Blogging"","block_context":{"text":"Blogging","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/blogging\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1327,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1327\/when-banks-are-permitted-to-competethe-consumer-might-just-win\/","url_meta":{"origin":1063,"position":5},"title":"When Banks Are Permitted to Compete…The Consumer Might Just Win","author":"Brian Brady","date":"April 21, 2007","format":false,"excerpt":"In Southern California, many loan originators are licensed by the Department of Real Estate. 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