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Short-Term Woes Hamstring OC Market

IRVINE, CA-With the subprime fallout and credit crunch in play, the market will experience near-term tightening but should pick up speed within the next 12 to 18 months.

By Daniel D. Williams | Updated on August 29, 2007

IRVINE, CA-”The gold standard,” was an oft-heard phrase at yesterday’s RealShare Orange County conference. Robert Brunswick of Buchanan Street Partners repeated the words throughout the Town Hall Meeting, using them like a hammer to drive home his point about OC’s gilded status as an area to live, work and play: it’s a market that carries a rich diversity of jobs, an overflow of intellectual capital, an enviable, tropical climate and a transportation-friendly, masterplanned design.

The long-term prognosis is bullish for Orange County’s various economic and commercial real estate product types, according to Brunswick and other conference panelists. But the short term is another story.

Like the early morning Huntington Beach surfers zigzagging among crashing waves, real estate professionals will likely be navigating a dangerous path over the next year or so. The experts agreed that the “gold standard” would be taking a respite as the area’s movers and shakers ride out the subprime fallout, with its subsequent credit crunch and overall economic woes.

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