California to suffer housing shift, UCLA forecasters say

[bemildred]

UCLA forecasters have seen the future of California's housing market, and it looks like this: more apartments near the coast, fewer McMansions in the desert.

That prediction is based on several factors, including expectations that rising fuel prices will encourage people to live closer to jobs along the Southland coast and in the San Francisco Bay Area.

The state's population is also skewing younger, meaning there will be more demand for urban rental units and less demand for suburban cul-de-sacs, according to the quarterly economic forecast released Wednesday by UCLA's Anderson School of Business.

"The incremental demand for housing is moving more into multifamily housing," said Jerry Nickelsburg, senior economist with the forecast. "Many of the younger generation have been buffeted by the boom and bust in the housing market, and see value in living closer to work."

http://www.latimes.com/business/realestate/la-fi-econ-forecast-20110615,0,3144669.story

[DesertDiamond]

1. That's good for me, I live in the desert and have been praying no housing tracts be built outside my

back yard, ruining the view I love so much. That said, I may have to move back to LA myself to pursue my career. The cost of driving down there is too too much. But, think of the environmental savings from fewer people commuting!

[JDPriestly]

2. Could you rent, say a room, in the city and return to the desert on the weekends.

Or do you have a family?

A lot of young families are moving into our area which used to be considered a not good area.

We are north of downtown LA off the 110 freeway. You might check this area out if you have a family and need to move.

There are still gangs here, apparently, but with the influx of young, middle-class and professional people, I expect that to change.

We raised our children here and they are fine.

[thelordofhell]

3. More fantasy land predictions from UCLA

The reality is that you're going to see more tents on underpasses, hotels turned into "rental apartments", and people living in cars on the beach.

[taught_me_patience]

4. Precisely why I bought a condo right on the ocean

Inland baby boomers want to move to the coast to live out their retirement = price appreciation for my condo. That's the theory, anyway.

[Name removed]

5. Deleted message

Message removed by moderator. Click here to review the message board rules.