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Page 1: What’s Next L.A.? Economic Conference, Residential Real Estate Section
Page 2: What’s Next L.A.? Economic Conference, Residential Real Estate Section

BEACONECONOMICS

Page 3: What’s Next L.A.? Economic Conference, Residential Real Estate Section
Page 4: What’s Next L.A.? Economic Conference, Residential Real Estate Section
Page 5: What’s Next L.A.? Economic Conference, Residential Real Estate Section

50

100

150

200

250

300

Ind

ex (

Q1-

2000

= 1

00, S

A)

Q1-88 Q3-91 Q1-95 Q3-98 Q1-02 Q3-05 Q1-09

Los Angeles (MD) California United States

Source: 1010Data

Single-Family Home Prices, Q1-88 to Q4-09

Case-Shiller Index

50

100

150

200

Inde

x (Q

1-20

00 =

100

)

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles County California

Source: DataQuick

Q1-90 to Q4-09

New Home Sales

Page 6: What’s Next L.A.? Economic Conference, Residential Real Estate Section

!7.6 0.8 0.5 0.0!42.1 !24.2 !19.0 !26.4!52.6 !37.1 !24.7 !36.5

8.2 5.5 1.3 4.6

50

100

150

200

Inde

x (Q

1-20

00 =

100

)

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles County California

Source: DataQuick

Q1-90 to Q4-09

New Home Median Home Prices

Page 7: What’s Next L.A.? Economic Conference, Residential Real Estate Section
Page 8: What’s Next L.A.? Economic Conference, Residential Real Estate Section

1 298, 000 1, 075 63 621 329, 975 1, 500 25 211 1, 500, 000 2, 249 23 182 1, 143, 114 1, 814 35 292 532, 214 1, 280 133 861 11, 000, 000 6, 100 35 52 431, 711 1, 737 28 261 263, 990 1, 281 95 941 335, 000 1, 770 10 51 798, 333 1, 647 18 52 906, 245 1, 754 119 651 415, 657 1, 661 70 706 1, 150, 741 1, 474 335 1851 530, 000 1, 673 114 11424 779, 784 1, 411 2, 387 1, 7862 1, 337, 130 1, 766 569 5071 267, 500 1, 380 30 301 239, 000 830 30 302 428, 329 1, 452 85 815 613, 201 1, 555 191 1271 835, 833 2, 206 45 301 269, 900 1, 598 166 1662 343, 611 969 239 1671 538, 857 1, 117 41 411 510, 000 1, 775 14 61 260, 000 1, 350 23 234 426, 320 1, 124 493 2801 399, 167 1, 941 8 21 381, 400 1, 610 18 33 464, 849 1, 462 119 711 435, 000 1, 588 20 173 532, 305 1, 444 117 555 334, 976 1, 805 292 2611 444, 900 1, 785 40 293 326, 543 1, 137 140 1251 359, 000 1, 520 12 62 332, 815 1, 566 148 1051 897, 667 1, 537 35 232 576, 300 1, 373 40 171 410, 000 2, 545 34 245 892, 433 1, 381 84 293 599, 897 1, 456 122 861 414, 490 1, 752 114 1051 281, 000 876 991 988

Page 9: What’s Next L.A.? Economic Conference, Residential Real Estate Section

1 418, 500 2, 609 12 121 665, 000 2, 200 12 111 779, 933 3, 734 28 175 209, 516 1, 977 108 701 299, 000 1, 860 44 252 925, 060 3, 147 308 3065 277, 000 2, 836 770 7491 1, 495, 000 3, 429 6 51 995, 000 2, 358 16 151 425, 900 1, 149 138 1371 448, 750 3, 684 61 574 492, 088 2, 967 283 2651 499, 167 1, 963 18 41 1, 735, 000 5, 531 6 23 537, 129 2, 699 235 2273 1, 139, 584 4, 159 108 991 648, 888 2, 232 46 35

40

60

80

100

120

Inde

x (Q

1-20

00 =

100

)

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles County California

Source: DataQuick

Q1-90 to Q3-09

Existing Single-Family Home Sales

Page 10: What’s Next L.A.? Economic Conference, Residential Real Estate Section

50

100

150

200

250

300

Inde

x (Q

1-20

00 =

100

)

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles County California

Source: DataQuick

Q1-90 to Q3-09

Existing Single-Family Home Median Prices

40

60

80

100

120

Inde

x (Q

1-20

00 =

100

)

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles County California

Source: DataQuick

Q1-90 to Q4-09

Existing Condominium Sales

Page 11: What’s Next L.A.? Economic Conference, Residential Real Estate Section

50

100

150

200

250

300

Inde

x (Q

1-20

00 =

100

)

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles County California

Source: DataQuick

Q1-90 to Q3-09

Existing Condominium Median Prices

2

4

6

8

10

12

Perc

enta

ge

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q4-09

Apartment Vacancy Rate

Page 12: What’s Next L.A.? Economic Conference, Residential Real Estate Section

500

1,000

1,500

2,000

Gro

ss D

olla

rs p

er U

nit p

er M

onth

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q4-09

Apartment Cost of Rent

-4,000

-2,000

0

2,000

4,000

Thou

sand

s of

Uni

ts

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q4-09

Apartment Net Absorption

Page 13: What’s Next L.A.? Economic Conference, Residential Real Estate Section

5

6

7

8

9

Perc

enta

ge

Q1-90 Q2-93 Q3-96 Q4-99 Q1-03 Q2-06 Q3-09

Los Angeles (MD) Inland Empire (MSA)

Orange County (MD) San Diego (MSA)

*These data are seasonally adjusted and smoothed

Source: Property & Portfolio Research

Q1-90 to Q4-09

Apartment Cap Rates

Page 14: What’s Next L.A.? Economic Conference, Residential Real Estate Section

65, 848 56, 432 14.3 !125103, 975 96, 385 7.3 10594, 050 85, 868 8.7 1

188, 311 173, 623 7.8 369175, 406 164, 005 6.5 17782, 581 78, 617 4.8 458

368, 967 343, 508 6.9 372

1, 079, 138 998, 203 7.5 1, 356

0

200

400

600

800

Inde

x (Q

1-20

00 =

100

, SA

and

sm

ooth

ed)

Q1-94 Q4-95 Q3-97 Q2-99 Q1-01 Q4-02 Q3-04 Q2-06 Q1-08 Q4-09

Los Angeles County California

Source: DataQuick

Q1-1994 to Q4-2009

Foreclosures

Page 15: What’s Next L.A.? Economic Conference, Residential Real Estate Section

0

200

400

600

800

1,000

Inde

x (Q

1-20

02 =

100

, SA

and

sm

ooth

ed)

Q1-02 Q4-02 Q3-03 Q2-04 Q1-05 Q4-05 Q3-06 Q2-07 Q1-08 Q4-08 Q3-09

Los Angeles County California

Source: DataQuick

Q1-2002 to Q4-2009

Defaults

Actual Forecast

0.5

1.0

1.5

2.0

2.5

3.0

Thou

sand

s of

Uni

ts

Q1-04 Q3-05 Q1-07 Q3-08 Q1-10 Q3-11 Q1-13Forecast by Beacon Economics

Los Angeles County, Q1-04 to Q4-13

Single-Family Building Permit Forecast

Page 16: What’s Next L.A.? Economic Conference, Residential Real Estate Section

Actual Forecast

0

1

2

3

4

Thou

sand

s of

Uni

ts

Q1-04 Q3-05 Q1-07 Q3-08 Q1-10 Q3-11 Q1-13Forecast by Beacon Economics

Los Angeles County, Q1-04 to Q4-13

Multi-Family Building Permit Forecast