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Past booms resulted in more than 20,000 homes being built during peak years in the Sacramento region. In 2011, the low point of the housing market’s meltdown, only 2,000 homes were constructed.
Last year, 7,000 single-family homes were built, a 33 percent increase over 2015, according to the latest figures from the University of the Pacific.
The current year is shaping up even better, but housing growth will remain well below the historical average of around 12,000 homes a year, according to the latest UOP forecast. It projects 9,600 houses being built in 2017.
What’s surprising about that figure is that past recovery cycles took from two to seven years to go from bust to boom, when at least 15,000 houses were added each year. The Great Recession technically ended in 2009, eight years ago, yet construction remains relatively low.
Equally interesting on the same web page is a video bemoaning the shortage of housing construction workers.
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| The 9ft trellis extensions are working well. |
75 comments:
Your to mater vines are fabulous.
Thank you. Have I mentioned the peppers? ;)
I like following Sacramento housing because it has proven a big region canary in the coal mine indicator. If it keeps doing well I won't worry about general conditions. Bill McBride also likes to keep an eye on Sack-o-tomatoes as it is lovingly called.
No didn't mention peppers.
We can't think of a place in Florida from which you can extrapolate from meaningfully.
Wow! My tomato plants stopped at 5 feet.
As Cinco says, I'm expecting the recession before 2020. TPTB have got to rid the world of the menace known as Trump. The rest of us will just be collateral damage.
I've been off planting fig and PawPaw trees on the family pine tree farm. I grew the PawPaw trees from seed and propagated the fig trees from cuttings. Trying to improve the property for wildlife.
We have gone from where it was all Israel all the time, and all housing crisis and Financial info all the time and all communism all the time and all Greece and Italy all the time and now all Trump and all his family together with all Russia all the time.
Yuck
It seems that deer, birds, etc. can't eat loblolly pine.
Oh, and the Middle East.
Here in meat space, I'd like to hear a variety of discussions.
RealWorld™ is tricky stuff. Mrs Dawg really wants Trump gone so bad that everything she reads is impeachable behavior.
Things that worry me in order:
The overreach of the Federal State
The overreach of the 50 States
Public retirement funding
Privacy formally defined and protected
IP protection/compensation
Banking re-regulation and reform
A preemptive regulatory structure for engineered biologicals
Moles
Tech market stock crash
Solar grand minimum
Missing inflation comes back all at once
A plain old ordinary business cycle recession would be welcome. Trying to avoid a plain old ordinary business cycle recession would be a disaster.
Everyone knows IO do not "short." Not my game and vaguely unethical in a game that is not transparent. Anyway. Is there a way anyone can think of to "short" personal care retail? Nail salons for instance.
>Solar grand minimum
You're concerned about a possible mini-ice age ?
It would halt discussion of global warming in its tracks.
I'm concerned about a black swan event: miscalculation with respect to North Korea, China, Russia.
Particularly North Korea and possible resulting conflagration.
Secondary forest is usually pretty barren. That's one reason that fires are essential to the ecology of the forests...
Gotta agree with dryfly on that last one. SWFs have thrown our ability to predict inflation out the window.
CAGW is already dead. Just doesn't know it yet. I suspect tenure is the primary cause.
Black Seans are not predictable on human scales. Best not worry. I suspect the worry is more cumulatively damaging than the event.
My whole life there has been something horrible to worry about
First, we were all gonna freeze.
Then, we were all gonna starve.
Then we were gonna be exploded by nuclear war.
Then we were gonna be so polluted, we would die.
Race wars would get us.
We would all be hacked, so no legitimate government would be left
An asteroid would hit us.
Trump would destroy the republic. Likewise gerrymandering.
Debt would destroy us.
I'm sure there's more.
None of these have happened. Whose benefit does all these worries promote.?
Hmmm...worries keep blog readership high :-)
Ya... Aren't Sean's usually Irish?
LD;0... The elite
> " Aren't Sean's usually Irish?"
Hah!
FTR I love "Sean of the Dead." Great movie. Understand. Great in that it cost nothing, was good. By my measure the last 7 Star Wars and all Harry Potter movies do not qualify.
Why am I ranting? George Romero. R.I.P. Night of the Living Dead. Everything after. He and the Star Wars guy should switch places in the public perception.
Damn! Cinco is going to get a thunderstorm.
I know I know. Whine whine whine. I really do miss switch weather. And it is apparently genetic. My kids even the adult ones never miss a chance to cavort in a downpour.
The ozone hole. That actually needed fixing and it was.
We got .4 inch today. Yeay!
"Climbing a wall of worry."
We are headed towards a market cliff no one ever imagined.
ETFs.
ETFs buy sectors without regard to quality. Dumb dumb dumb. This penalizes the best and rewards the worst.
Hey, as a theoretical question how does that play out?
Doesn't sound good.
Hey as to nail salons, short nail polish companies.
But with high speed traders out there, what difference does it make?
> "
But with high speed traders out there, what difference does it make?
"
Exactly. In Dawgifornia all transactions are "whiteboard." All. One whiteboard. This wasn't possible even 3 years ago. Now it is necessary.
ETFs -I'm guessing everything gets sold indiscriminately so there should be some really good buys on high quality companies at some point?
Mutually Assured Destruction (MAD) did work during the cold war.
However I'm not sure it will work in the case of North Korea.
Even if it doesn't go nuclear, there could be one hell of a mess if NK bombards Seoul.
Remember, we have skin in the game with 28,000 troops in South Korea.
There will be awesome buys at some point but it won't matter because price and value will no longer track.
It looks like it's sliding off to the North... Wouldn't mind a shower truth be told
Run by Mentats?
Get your 65" flat screen TV now...
Watch it I'll use my Voice on you
Hehehehe
The Russians were semi civilized. Not sure of NK.
>Get your 65" flat screen TV now...
Got a Samsung 60" a couple of months ago.
Hope the warranty is good in case of war.
(A little black humor there).
You think there will be tv, hunh?
I don't think it'll be the West that does anything about NK. I think China will eventually get tired of feeding them and decide to do a little nation building as it grows in world power.
I think we've asked them to do that. If you want some post apocalypse reading, read Lucifer's Hammer. Meteor not bomb.
If China does something, Mayne NK will do something very bad to SK.
"Dune" afficiandos. Who would have ever suspected.
You shuda node.
The water of life only shows the likely path not te true path. You shialud have known that.
It is by will alone I set my mind in motion. It is by the juice of sapho that thoughts acquire speed, the lips acquire stains, the stains become a warning. It is by will alone I set my mind in motion.
When the Silly Valley bubbles burst they'll take Sac-Town down with them.
California would be Illinois were it not for the windfall cap gains taxes that come out of the bay area.
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Speaking of TVs... splurged on the LG OLED when we moved to Oregon. F***ing incredible picture; absolutely amazing.
Oh tj you are no fun! maybe tv is how he passes through the Gateless Gate.
Kali would never be Illinois. It doesn't have the Bean for one.
By the way, Fear is the mind killer.
What will Slate do if it doesn't have Trump care to kick around any more. E
2 more senator have left the pack, even if McCain gets well, which I hoe he does.
Hope he does.
> When the Silly Valley bubbles burst they'll take Sac-Town down with them.
California's revenue structure is such that a bad year for the rich is a really bad year for the State. When SillyV resets the smoking hole in the budget will be too large to fill by any revenue mechanism including outright confiscation. It will be the signal for the upper middle class to follow the upper class out of state.
It is by taxation alone that set my escape in motion. It is by the squeeze of liberals that thoughts acquire speed, the spending acquires money, the confiscation becomes a warning. It is by will alone I set my escape in motion.
Fry's had a 50" TV for $199 last week. Insane. Think about the cost of putting a piece of plywood 25"x 40" in a sturdy box and shipping it from China to Oxnard and selling it there. That's more than $199 by my accounting. FTR the same goes for Trader Joe's $3 Buck Chuck. A bottle of water in glass with a cork from NorCal to the store using food quality handing methods is that much at least.
Each use of roomba downstairs results in a handout of sand dirt and cat hair, whether I used it yesterday or not. Just thought you'd like to know. How many days before the dirt entirely fills up the house?
Karl the Snarl Denniger has it right. One does not discover a blood clot in the brain via a routine checkup. Even allowing the a Senator gets a real checkup you don't do a CT scan unless there is a strong reason. I hope he gets better but the media has clearly fallen for a cover story about a far more serious incident.
Hahahahaha. He hehehehe.
Roombas are programmed to make you feel inadequate. There's a secret compartment that dispenses dirt if it cannot find enough on its own.
Well, at least this puts off legislation. My hope is that this Congess gets absolutely nothing done, and it's distinctly possible.
Except I wish they'd put the kibosh on those stupid airplanes.
All those votes against Obama care,.and the Repubs didn't mean any of it.
You are on a roll, Dawg
Not necessary in my house!
And a new post. CoreLogic Loan Performance. Yeah, boring but necessary.
Surely your cats emit their fair share of fur. The hub has been installing pavers in front which mears he drags in his share of sand and dirt, as does my planting. Heinlein said that there was never a floor that didon't need cleaning. (Door Into Summer). I wish there was some good scifi, not just fantasy.
Pavers are old dude satisfying. There is labor but also artistry and the result endures. Ask Cinco about my grand river of stone.
What do you despise... By this you are truly known
Hope clouds observation
The people who can destroy a thing, they control it...
bought a 55" westinghouse, doorbuster black friday deal for $120 at Target last year.
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