Notes:
*All data and upside/downside commentary courtesy the Meyer’s Group
*Demand/Supply Ratio (1.0 plus — Job-growth-driven-demand exceeds permit supply; 0 to .99 — Supply exceeds demand; less than 0 — Negative job growth)
*Illustrations by John Mattos
Diverse array of housing product … strong high-tech and bio-tech presence … steady in-migration of businesses and households from California … on pace for record-level residential construction activity … good cost of living.
Downside
Unemployment rate remains higher than 5.0 percent … weak employment growth and strong construction activity causing excess in new-home inventories
Highly affordable housing market … strong residential construction activity … low cost of doing business …home prices appreciating … solid core of companies, facilities, and logistics … steady, but reduced, population growth.
Downside
Commercial vacancy rates indicate relocation has slowed … increase in personal bankruptcies … large net migration loss of residents … weak employment conditions … rising mortgage rates could push affordability ratio down.
Affordable housing … second largest financial center in the nation … broadening industrial base … strong single-family presence … steady, but slow, home appreciation … healthy supply of affordable homes.
Downside
Population growth taxing local infrastructure … declining textile industry … increase in personal bankruptcies … weak economy … negative job growth … manufacturing slump continues.
Strong population growth … improving economy … rebounding commercial real-estate market … high affordability ratio … minority buying power increasing … job-driven and demand/supply ratios expected to improve.
Downside
Increasing traffic congestion … heightened anti-growth sentiment … struggling local economy … permits expected to decline … big falloff in multifamily permits … housing market remains mixed.
High per-capita income … highly skilled and educated workforce … trade and information sectors showing turnaround … single-family permits up … housing market remains active … diverse local economy.
Downside
High business tax burden … increasing business and household out-migration … rising personal bankruptcy rates … multifamily permits continue to decline … continued job cuts and downsizing.
