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IRVINE, CA—Climbing housing prices and apartment rents are preventing many workers from living near jobs in high-end submarkets, while understanding today's homebuyers' needs is more important than ever, said speakers at OC Forum's 2018 Housing Outlook here Thursday. In addition, constant disruptors can have a dampening effect on homebuyers.
Emile Haddad, chairman and CEO of FivePoint, told attendees at the luncheon event that his firm tries to plan its developments with customers' lifestyle in mind, recognizing the desires of the younger generation to be in urban core spaces and reimagining spaces for when driverless cars are commonplace.
There are dichotomies between what's happening in the housing industry and what's happening in the real world, according to Larry Webb, CEO of the New Home Co. “The worlds is always changing, but our industry is a family business” that perpetuates, generation after generation, said Webb. “They don't want to change; change scares them.” He added that the New Home Co. is always having “new” ideas since we live in a world of disruption, which creates uncertainty among homebuyers. “When uncertainty hits, people don't want to make the biggest purchase of their lives.”
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
