YORBA LINDA, Calif., Aug. 9, 2016 – Real estate professionals in California wait on pins and needles as they navigate California’s unusual real estate market. Prices continue to increase under the pressure of record-low housing supply, life-time-low interest rates, and bullish demand. How high can California go? Is a crash inevitable in 2017?
“Some California markets have blown through their past peak prices,” says Bruce Norris, President of The Norris Group and host of I Survived Real Estate. “Distressed inventory has been replaced with sellers that have equity, institutional buyers have moved on to greener pastures, and interest rates could start with a two in the year ahead. But, our network is nervous and increasingly cautious.”
Norris says the US has never experienced such anemic GDP growth in combination with an unemployment rate so low. Real estate professionals are watching affordability numbers descend at a time when wage growth has stagnated, the political environment has people playing conservative, and even extremely qualified borrowers struggle to get financing. Add to that the fear that technology will displace many pieces of the real estate industry and it’s no wonder industry professionals are concerned.
Norris has assembled a panel of real estate experts to address the current state of real estate and its implications for consumers and real estate professionals during his 9th annual “I Survived Real Estate” charity gala, which is scheduled from 4 to 10:30 p.m. Friday, Oct. 21, at the Nixon Presidential Library in Yorba Linda.
Other topics of discussion will include digital disruption in real estate, California buyer demographics, Millennial and Baby Boomer ownership trends, and the forecast for a post-election real estate market.
Proceeds from the Oct. 21st “I Survived Real Estate” event will be donated to Make-A-Wish® Orange County and the Inland Empire, and to St. Jude Children’s Research Hospital. The event has raised over $600,000 for charity in the past eight years.
On Saturdays leading up to the event, Norris will interview an “I Survived Real Estate” panelist or local expert about current market conditions within that expert’s area of expertise. Norris regularly interviews economists, government officials, association presidents and other industry thought leaders on his weekly real estate radio talk show, which airs at 6 p.m. Saturdays on KTIE 590 AM in San Bernardino. Podcasts of Norris’s radio interviews can be accessed through his company website, www.thenorrisgroup.com.The Norris Group is a California-based hard money lender and real estate investment firm.
“I Survived Real Estate” has more than 25 sponsors, including HousingWire, PropertyRadar, the Apartment Owners Association, InvestCLUB for Women, Inland Empire Real Estate investment Club, the San Jose Real Estate Investors Club, SJREI, Think Realty, the San Diego Creative Investors Association, MVT Productions, and White House Catering.
For tickets and other information regarding the Oct. 21st event, visit www.isurvivedrealestate.com. Reporters seeking interviews with Bruce Norris and panel participants before or after the event should contact Aaron Norris at (951) 780-5856.