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Regional Housing and Economic Impact Analysis Update (2018)
London Moeder Advisors has completed this comprehensive analysis which addresses housing issues in the San Diego region and its integrated impact on the overall regional economy in the coming years. This study is an update to our previous study entitled Regional Housing and Economic Impact Analysis (July 2016).
The purpose of this report is to update the statistical information over the past two years, as well as to check the status of housing development and employment growth throughout San Diego County. Thus, it serves as a regional “report card” on how our housing market has performed.
Region’s Housing Crisis Becomes Economic Crisis (2016)
“Regional Housing & Economic Impact Analysis” addressed the disconnect between housing preferences as well as the maldistribution of jobs and housing, particularly in the North County. This study also includes a report by BW Research, which addresses the economic and fiscal implications for the region and local business.
Facts & Implications of Not Meeting Regional Housing Demand
“Facts & Implications of Not Meeting Regional Housing Demand” concluded that there is an insufficiency in the construction of new housing units, which will continue to fester in the form of higher housing costs and limited product types (mostly multifamily).
EconoMeter | 2024
Almost every week the San Diego Union-Tribune Business section asks its panel of business leaders and economists to weigh in on an economic issue of concern to San Diegans. Gary London has been a member of this esteemed panel since 2011.
May 3, 2024 – Mortgage rates hit their highest point this year, 7.52 percent, last week. The Econometer panel considers its impact.
SDUT’s Question: Is a 7.52 percent interest rate enough to slow San Diego home price growth?
Gary London’s Answer: No. Home prices continue to rise principally because of a supply deficiency. High interest rates do matter because…Read the Article Here
April 26, 2024 – California’s Supreme Court has agreed to weigh in on controversial new rules that slash the financial incentive for people who install rooftop solar on their homes.
SDUT’s Question: Should California’s Supreme Court overturn new rooftop solar rules?
Gary London’s Answer: Yes: This approach to energy efficiency is wrong. Solar paneling costs have come down but…Read the Article Here
April 19, 2024 – Officials with the U.S. central bank have telegraphed plans to cut interest rates this year, but stubborn inflation is shifting expectations
SDUT’s Question: Will the Federal Reserve still cut rates this year?
Gary London’s Answer: Yes. But likely later in the year. The current inflation rate, while dramatically lower than last year, seems…Read the Article Here
April 12, 2024 – Earlier this month, California fast-food workers started earning a $20 an hour minimum wage.
SDUT’s Question: Is the negative effect of the $20 fast-food minimum wage overblown?
Gary London’s Answer: Yes. The wage increase will undoubtedly raise fast-food costs. Consumers are more likely to…Read the Article Here
April 4, 2024 – Sea World San Diego hit a peak attendance of nearly 4.6 million in 2012 and 2013, but it’s never come close to reaching that level again
SDUT’s Question: Will SeaWorld ever get back to its peak attendance of more than a decade ago?
Gary London’s Answer: No. The killer whale problem is a residual negative for them. Many families haven’t…Read the Article Here
March 29, 2024 – Nearly 31,000 more people left San Diego County than moved here between July of 2022 and July of 2023
SDUT’s Question: Will San Diego County see similarly high volumes of people moving out next year?
Gary London’s Answer: Yes. This is now a trend owed to the cost and scarcity of housing suitable for young families of…Read the Article Here
March 22, 2024 – San Diego approved a plan last week to spend up to $4.5 million for a study to see how much single-family homes should be charged for trash and recycling services.
SDUT’s Question: Is $4.5 million for a San Diego trash study too high?
Gary London’s Answer: Yes. Before spending the money, maybe policymakers should be asked if…Read the Article Here
March 15, 2024 -President Biden introduced several plans at the State of the Union targeting big businesses and the wealthiest Americans
SDUT’s Question: Is President Biden on the right track with his tax increase proposals?
Gary London’s Answer: Yes. SOTU proposals are always an aspirational candy store and are tempered over time and…Read the Article Here
March 7, 2024 -The Port of San Diego unanimously approved a new master plan last week that will increase the density in the land it controls
SDUT’s Question: Is the Port of San Diego on the right track with its new master plan?
Gary London’s Answer: Yes. This is a long-awaited master plan, which triumphs in its articulation of a variety of…Read the Article Here
March 1, 2024 -China will be sending two pandas to the San Diego Zoo, possibly as soon as this summer, five years after Beijing took the beloved creatures out of San Diego.
SDUT’s Question: Will pandas returning to San Diego Zoo have a notable impact on the tourism industry?
Gary London’s Answer: Yes. I remember standing in line for a glimpse of the pandas. It was one of San Diego’s most…Read the Article Here
February 23, 2024 -An audit said San Diego roads get a “fair” rating with a score of 63. That compares San Francisco at 74, Phoenix at 70 and Los Angeles at 67
SDUT’s Question: Does San Diego need to increase its road repair funding?
Gary London’s Answer: Yes. The roads are a mess. The only question is, how to fund the repairs? Assuming existing…Read the Article Here
February 16, 2024 -Disney, Fox and Warner Bros. Discovery are proposing a new sports streaming service to capture fans who are abandoning cable TV packages.
SDUT’s Question: Will a Disney and Co. sports streaming service be a step in the right direction for consumers?
Gary London’s Answer: Yes. Hopefully consumers will be the beneficiaries from the cable vs. streaming wars. It’s not just…Read the Article Here
February 9, 2024 -Proponents say a tax is necessary to pay for updating the city’s outdated 20th century stormwater system
SDUT’s Question: Does San Diego need a water quality tax to help with flood prevention?
Gary London’s Answer: Yes. As a concerned citizen I obviously want our infrastructure to be state of the art, and people…Read the Article Here
February 2, 2024 -Super Bowl advertisement space had sold out in November and it cost as much as $7 million for a 30-second ad during the game
SDUT’s Question: Are Super Bowl advertisements worth the money?
Gary London’s Answer: Yes. The answer is self-evident because advertisers pay the biggest rates of the programming year. There are…Read the Article Here
January 26, 2024 -City officials said historic preservation complaints often stop potentially beneficial projects for San Diego
SDUT’s Question: Should San Diego change historic preservation rules?
Gary London’s Answer: Yes. Current historic rules run counter to how our city’s neighborhoods can thrive and reinvent. There are…Read the Article Here
January 19, 2024 -Newsom’s budget plan would pull more than $13 billion from the reserves and include an additional $8.5 billion in spending cuts.
SDUT’s Question: Is Gov. Newsom on the right track with his budget plan?
Gary London’s Answer: Gary did not participate this week. Read the Article Here
January 12, 2024 -The new owner of 180 Broadway in downtown San Diego will convert the office building into a residential and hotel property. Will others follow?
SDUT’s Question: Will San Diego see more office buildings converted to residential?
Gary London’s Answer: Yes. We have entered a new era of permanently increased vacancies in commercial assets. Resulting lower valuations will…Read the Article Here
January 5, 2024 – San Diego in ’24: Experts predict higher home prices and more
SDUT’s Question: What economic indicator will you monitor most closely in 2024?
Gary London’s Answer: Vibes: There are two fundamental economic persuasions. The first is the data-driven types like inflation,…Read the Article Here