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by Pete Reeb
How do you become the 22nd-fastest-selling master-planned community in the country with just seven months of sales? Rancho Mission Viejo in San Juan Capistrano, California sold 360 homes (50-plus a month) from June to December at its two new villages nestled in the South Orange County hills just ten minutes from the beach.
by John Burns
I co-hosted Bloomberg Surveillance on Tuesday. Here is a clip of the five minutes we spent on housing, covering:
- California housing
- Investor activity
- BRIC millionaires parking money in US real estate
- Coastal markets versus inland markets
- Phoenix versus California as the leading indicator
- Young families
Please cut me some slack on the cuss word, as it was 6am in New York and I had just flown in from California.
The highlight of my week in New York was the growing thesis that rates could stay low for some time. It is something I am thinking about a lot, but I am hoping to find five credible bond investors who tell me they are investing as if that will be the case. That will convince me.
The US labor pool will grow 75% more slowly than usual over the next decade due to heavy retirement. This will:
- Bring unemployment down quickly, even if we attract more people back to the labor force, and
- Create wage inflation as employers finally have to compete for talent
For years, the US has been adding 1.8+/- million eligible people to the labor pool: