Saturday, February 9, 2008

John Husing

John Husing, Private Economist, Ph.D
Tell us more, Dr. Idiot.

2006-06-20: Calculated Risk
There's just too strong an economy and too much job growth for much other than the "soft landing'' Husing and other economists have been predicting for the end of the five-year housing boom."We are right on the cusp of a very powerful period in job growth,'' Husing said. "Local [Inland Empire, San Bernardino/Riverside area] unemployment in May was 4.2 percent, and that's the lowest I have seen for May in 42 years of studying the local economy.

"If we are lucky, prices will go flat,'' he said, suggesting that we could see five years without price appreciation. [Thornberg]

That may be true elsewhere, Husing said, but it won't happen here."Is the housing market vulnerable?'' he asked. "Yes, it is. But is a bubble likely to happen? No, it is not. The underlying strength of our economy is too great.''

2007-06-07: Inland Empire economy continues growth
Historically speaking, the doldrums surrounding the housing market are not as serious as they appear, economist John Husing said at a forum in Riverside.

"We do not have an underlying weak economy." Husing said the Inland housing market is in the midst of an 18-month pause, and will likely see annual depreciation in the median sales price of 5 percent this year.

2008-02-08: Falling Inland home prices still too high
Inland economist John Husing called the recent improvement in housing affordability "dramatic," but he said he does not believe homes ever again will be as affordable as they were in 2000. "That's ancient history," he said.

A persistent obstacle to affordability, Husing said, is posed by environmental restrictions that make it impossible for builders to produce enough homes to satisfy the needs of a growing population. A chronic shortage of supply, he said, tends to push up prices.

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