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Old 10-20-2017, 08:53 PM
 
Location: Laguna Niguel, Orange County CA
9,809 posts, read 9,001,268 times
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No end in sight?

Orange County housing update: $702,750 median (and 14 other late-September trends) – Orange County Register
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Old 10-20-2017, 09:44 PM
 
Location: Riverside Ca
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Wow. Christ can you imagine if Amazon does go to Irvine?
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Old 10-21-2017, 07:51 AM
 
Location: Orange County, CA
5,381 posts, read 7,337,731 times
Reputation: 4514
I wonder what effect, if any, the new CA law allowing some homeowners to rent out units will have on housing prices? The law is intended to help increase the housing supply.

Aliso Viejo has adopted a new ordinance to allow such units. I imagine that other South County cities, as well as those north of us, either have or will soon make such changes:

Aliso Viejo ordinance may help create more housing in the city – Orange County Register

Ugh, an aside, in area, we are actually just a little bit smaller (7.47 sq mi vs 8.85 sq mi) than Laguna Beach and already have enough people in Aliso.

Last edited by pacific2; 10-21-2017 at 08:02 AM..
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Old 10-21-2017, 12:07 PM
 
Location: Riverside Ca
22,165 posts, read 25,880,199 times
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Quote:
Originally Posted by pacific2 View Post
I wonder what effect, if any, the new CA law allowing some homeowners to rent out units will have on housing prices? The law is intended to help increase the housing supply.

Aliso Viejo has adopted a new ordinance to allow such units. I imagine that other South County cities, as well as those north of us, either have or will soon make such changes:

Aliso Viejo ordinance may help create more housing in the city – Orange County Register

Ugh, an aside, in area, we are actually just a little bit smaller (7.47 sq mi vs 8.85 sq mi) than Laguna Beach and already have enough people in Aliso.
Yeah the mother in law quarters. Sounds good but you must have the space to build. Most housing built in the last 25 years doesn't have the yard space to build such housing. If anything I would say build a second story with its own separate entrance above the garage if it's possible.
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Old 10-21-2017, 05:27 PM
 
Location: Ca expat loving Idaho
4,347 posts, read 2,571,465 times
Reputation: 6407
Just a little comparison I'm in Tucson and just checked out the KB model homes. A 3 bdrm 2 bath single story decent sized landscaped back yard 1700 sq ft model is selling with all the upgrades 175k and the HOA is 35.00 a month. The biggest fanciest is 245k
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Old 10-21-2017, 05:33 PM
 
Location: Orange County, CA
5,381 posts, read 7,337,731 times
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Quote:
Originally Posted by Electrician4you View Post
Yeah the mother in law quarters. Sounds good but you must have the space to build. Most housing built in the last 25 years doesn't have the yard space to build such housing. If anything I would say build a second story with its own separate entrance above the garage if it's possible.
Right, but this also seems to mean that people can turn their garages into rental spaces.

Aliso Viejo ordinance may help create more housing in the city – Orange County Register
"The Aliso Viejo City Council unanimously passed an ordinance to allow accessory or secondary dwelling units from 300 square feet to 1,000 square feet in single-family homes in all residential zones, in accordance with state law AB2299.

The law is intended to increase housing in California by facilitating the creation of new accessory dwelling units, City Manager David Doyle told the council.

The creation of an accessory dwelling unit must be permit-approved and can only be rented, excluding short-term rentals. Garages are included as accessory dwelling units in the ordinance."
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Old 10-21-2017, 05:49 PM
 
Location: Laguna Niguel, Orange County CA
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This is just among the first assaults on our local zoning powers. They will turn everywhere into sheet with an ever diminishing quality of life.
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Old 10-21-2017, 06:26 PM
 
1,069 posts, read 944,502 times
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This could portend of a price decline:

Xi Jinping's Speech: "Housing Is For Living Rather Than Speculation" | Zero Hedge

At the Communist Party's 5-year summit, China's President Xi stated that "Housing is for living rather than speculation".

With China's Debt to GDP ratio at 250% (significantly higher than the US) and given the authoritarian control of the Party, it stands to reason China may crack down on their citizens hiding/laundering money in overseas real estate.

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Old 10-21-2017, 06:41 PM
 
1,069 posts, read 944,502 times
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To piggyback on the last post, here is another article that come out today from Zero Hedge:

Unprecedented Housing Bailout Revealed, As China Property Sales Drop For First Time In 30 Months | Zero Hedge

Cliffs:
Chinese housing market is in a huge bubble
75% of Chinese household wealth in invested in real estate (24% for the USA)
28% of real estate purchases in China are by the gov't or backed by gov't subsidy
China had property sales drop last month for the first time in 30 months

If I was Xi, I'd want the expatriated real estate capital to be repatriated immediately.
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Old 10-24-2017, 12:44 PM
 
Location: Laguna Niguel, Orange County CA
9,809 posts, read 9,001,268 times
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In September, OC's Median price was 710k, almost reaching Bay Area levels.

Orange County home prices shatter $700,000 barrier, set record – Orange County Register
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