Join us for the 2018 Inland Empire Economic Forecast on 10/11/18!

MetroIntelligence is pleased to be a sponsor for the 2018 Inland Empire Economic Forecast taking place on Thursday, October 11th in Riverside, CA.

Click here to register:  https://lnkd.in/eK25sXE

It's been a decade since the U.S. fell into the worst economic downturn of the modern age. The Great Recession was especially ‘great’ in the Inland Empire where the damage inflicted was among the worst in the nation and came at a time of unprecedented expansion locally. Today, propelled by one of the fastest growing populations in the state, the region has largely put this painful episode behind it as unemployment has fallen to record-low levels, incomes are rising, and the housing market is picking up ever greater steam.

Get answers to these questions and more:

• Is the Inland Empire economy different today than when the Great Recession hit? Are we better prepared to face the next downturn?
• Are the same conditions that led to the recession beginning to form again? What signals should we watch for?
• What are the greatest threats to today’s prosperity?
• What are the best opportunities and how can you take advantage of them?

Click here to register:  https://lnkd.in/eK25sXE

Less than one week left to register for the 8th annual Inland Empire Economic and Forecast Conference on 10/25/17

It's less than one week away!

The Housing Chronicles Blog and MetroIntelligence are pleased to partner as a sponsor with the UC Riverside School of Business' Center for Economic Forecasting & Development for their next economic conference on October 25, 2017 in Riverside, CA.

Entitled "Urban Inland Empire: California's Next Metropolis? Re-Imagining Economic Growth in the IE," this afternoon-long program will bring together economists, elected officials and academics.

Click here to register and save $25! You can also key in the code mrea17 at check-out to receive this discount.

What you can expect from this conference:

The Inland Empire is different from similarly sized markets like Atlanta and Houston in a critical way. It has no central downtown or 'urban core' where jobs are densely located.

• What does this dynamic mean for business creation and economic development in the region?
• Is the creation of an urban core the way to develop and grow the local economy?
• Would an urban core appeal more to new businesses and do more to expand current ones?

Join some of the state's leading experts for a new economic forecast and a data-driven discussion about the region's urban future. 

Click here to register and save $25! You can also key in the code mrea17 at check-out to receive this discount.

2 weeks left to register for the 8th annual Inland Empire Economic and Forecast Conference on 10/25/17

It's only 2 weeks away!

The Housing Chronicles Blog and MetroIntelligence are pleased to partner as a sponsor with the UC Riverside School of Business' Center for Economic Forecasting & Development for their next economic conference on October 25, 2017 in Riverside, CA.

Entitled "Urban Inland Empire: California's Next Metropolis? Re-Imagining Economic Growth in the IE," this afternoon-long program will bring together economists, elected officials and academics.

Click here to register and save $25! You can also key in the code mrea17 at check-out to receive this discount.

What you can expect from this conference:

The Inland Empire is different from similarly sized markets like Atlanta and Houston in a critical way: It has no central downtown or 'urban core' where jobs are densely located.

• What does this dynamic mean for business creation and economic development in the region?
• Is the creation of an urban core the way to develop and grow the local economy?
• Would an urban core appeal more to new businesses and do more to expand current ones?

Join some of the state's leading experts for a new economic forecast and a data-driven discussion about the region's urban future.

Click here to register and save $25! You can also key in the code mrea17 at check-out to receive this discount.

30 days left to register for the 8th annual Inland Empire Economic and Forecast Conference on 10/25/17

It's only one month away!

The Housing Chronicles Blog and MetroIntelligence are pleased to partner as a sponsor with the UC Riverside School of Business' Center for Economic Forecasting & Development for their next economic conference on October 25, 2017 in Riverside, CA.

Entitled "Urban Inland Empire: California's Next Metropolis? Re-Imagining Economic Growth in the IE," this afternoon-long program will bring together economists, elected officials and academics.

Click here to register and save $25! You can also key in the code mrea17 at check-out to receive this discount.

What you can expect from this conference:

The Inland Empire is different from similarly sized markets like Atlanta and Houston in a critical way: It has no central downtown or 'urban core' where jobs are densely located.

• What does this dynamic mean for business creation and economic development in the region?
• Is the creation of an urban core the way to develop and grow the local economy?
• Would an urban core appeal more to new businesses and do more to expand current ones?

Join some of the state's leading experts for a new economic forecast and a data-driven discussion about the region's urban future.

Click here to register and save $25! You can also key in the code mrea17 at check-out to receive this discount.

Registration now open for the 8th annual Inland Empire Economic and Forecast Conference on 10/25/17

The Housing Chronicles Blog and MetroIntelligence is pleased to partner as a sponsor with the UC Riverside School of Business' Center for Economic Forecasting & Development for their next economic conference on October 25, 2017 in Riverside, CA.

Entitled "Urban Inland Empire:  California's Next Metropolis?  Re-Imagining Economic Growth in the IE," this afternoon-long program will bring together economists, elected officials and academics.

Click here to register and save $25!  You can also key in the code mrea17 at check-out to receive this discount.

What you can expect from this conference:

The Inland Empire is different from similarly sized markets like Atlanta and Houston in a critical way: It has no central downtown or 'urban core' where jobs are densely located.

• What does this dynamic mean for business creation and economic development in the region?
• Is the creation of an urban core the way to develop and grow the local economy?
• Would an urban core appeal more to new businesses and do more to expand current ones?

Join some of the state's leading experts for a new economic forecast and a data-driven discussion about the region's urban future.

Click here to register and save $25!  You can also key in the code mrea17 at check-out to receive this discount.

Riverside-San Bernardino Economic Forecast Conference

Register now: Thursday, November 3rd at the Riverside Convention Center!

Join MetroIntelligence and Beacon Economics for the next Riverside-San Bernardino Economic Forecast Conference, presented with the generous sponsorship of the U.C. Riverside School of Business Administration.

Come hear some of the state's most reputable forecasters deliver a new outlook for the U.S., California, and Inland Southern California economies.

• Is the recent slowdown in the U.S. economy a sign of worse to come? Or are we over the hump?
• Housing prices have stabilized but sales remain weak. What really ails the housing market?
• Can President Obama or Governor Brown make a dent in unemployment before the 2012 election?
• When will growth return to Inland Southern California?

Following the forecast, join a lively debate over the direction of jobs and employment in Inland Southern California. Hear expert speakers as they lay out their views about where the region should be focusing its efforts and resources.

• White Collar vs. Blue Collar: Does the future of Inland Southern California’s economy lie in high tech or the region's traditional industries?
• With the recent expansion of the Governor's "San Diego Innovation Hub" to include the I-215 Corridor, possible new funding sources have opened for high tech enterprise. Is this a golden opportunity for Inland Southern California to move towards becoming a high tech corridor?
• Inland Southern California's well-established, traditional industries, such as manufacturing, have strong competitive advantages. Would a greater focus on high tech business affect these industries?
• What can policymakers and economic developers really do to affect the direction of job and business development in the region? Is much of it out of their hands?

Special discount available through MetroIntelligence: Use discount code metroie11 to save $25 on registration.

Click here to register.

Conference attendees will receive the following:

• 2011 Riverside-San Bernardino Economic Forecast Book - a data-packed analysis of the region's economic indicators
• Sections on residential and commercial real estate authored by MetroIntelligence Principal Patrick Duffy
• Quarterly updates to the forecast for one full year
• Chance to interact with forecasters and speakers
• Prime networking opportunity
• Breakfast buffet
• Hosted self-parking
  

Special discount available through MetroIntelligence: Use discount code metroie11 to save $25 on registration.

Click here to register.

2010 Riverside San Bernardino Economic Conference materials now online

If you missed Beacon Economics' 2010 Economic Forecast Conference for Riverside San Bernardino on November 9th, you can still download the conference book for FREE! As part of our ongoing partnership with Beacon, MetroIntelligence Real Estate Advisors authored the sections on residential and commercial real estate.

Click here to download entire conference book.

Click here to download the section on residential real estate only.

Click here to download the section on commercial real estate only.

Inland Empire industrial space vacancies rising

After providing one of the Inland Empire's most important economic engines over the last two decades, the companies which industrial/warehouse space are either scaling back or giving up leases, leading to a sharp spike in vacancy rates. From an L.A. Times story:

As the regional economy continues to sputter, vacancy rates are beginning to climb at warehouses and distribution centers for industrial goods, putting the already hard-hit Inland Empire at further risk of decline and threatening facilities in Los Angeles and Orange counties as well...

Industrial vacancy in the Inland Empire doubled in the last year, from 6.2% in the fourth quarter of 2007 to 12.4% at the end of 2008, according to figures just released by brokerage Cushman & Wakefield. Hardest hit was the eastern side of the region including the cities of San Bernardino and Redlands, where vacancy has surpassed 22%.

More centrally located industrial properties in Los Angeles and Orange counties are also beginning to feel the pinch, although the modest increases in vacancy rates are still considered healthy by industry standards. Many of those properties are rented to small entrepreneurs who are hunkered down but so far toughing out the economic downturn, industry observers say. Small businesses that do fail are easier for landlords to replace than the large corporate tenants that favor the Inland Empire.

Vacancy in Los Angeles County is 3.3%, up only 1 percentage point from a year ago. Orange County's vacancy is 5.1%, up from 3.2% last year at this time...

Click here for full story.

Inland Empire economic outlook remains grim

According to a presentation this morning in San Bernardino, it looks like it's going to be tough sledding in the Inland Empire for the near future, with home prices continuing to decline and an economy in recession.

Such were the projections of speakers from Beacon Economics, which organized the conference and the University of Redlands, which acted a title sponsor (MetroIntelligence Real Estate Advisors was also a sponsor and authored the real estate sections of the report). From a story in the L.A. Times:

A panel of economists today offered grim predictions for the Inland Empire economy, including a rise in unemployment, a slide in manufacturing and a wave of foreclosures likely to continue for another two years.

Some of the numbers were staggering.

"There has been a 3,500% rise in foreclosures in the Inland Empire since 2005," said Brad Kemp, director of regional research for Beacon Economics, a research and consulting firm. "Most people want to think this housing drop is over, but it's going to continue."

A recovery, he said, is not expected until early 2011, the same year he thinks the housing crash will bottom out after home prices fall 28% to 32% more...

"California has been in a recession for almost a year now," said Christopher Thornberg, one of the founders of Beacon Economics, which produced the forecast. "This is not only a recession but a deep recession, and it's amazing how many people were denying it even when we were in the middle of it."

He said house prices must fall 40% to 50% to become affordable again. And when they do, it will be a long time before values go up.

"Housing markets don't bounce, they splat," he said. "We will be at the bottom for a while. The peak of foreclosures will be around for the next two to three years."

Recessions, he said, are a good thing because they "work the evil out of the system."...

Between 2000 and 2006, 315,000 jobs were created and 815,000 new residents moved in, according to the report. Home prices jumped 214% in Riverside County and 241% in San Bernardino County.

Many homeowners took out adjustable-rate mortgages that were foreclosed when the rates reset at a higher level. Home prices plummeted 35% in Riverside and 37% in San Bernardino Counties over the last year.

"Most of the downturn . . . will be experienced by the end of 2010, when median home prices are expected to be on order of $198,000 and $165,000 in Riverside and San Bernardino Counties respectively," the report said.

Click here for full story.

If you missed the presentation, you can find the conference materials here:

• Inland Empire Economic Forecast Book (PDF - 5M)
• Christopher Thornberg Presentation (PDF)
• Brad Kemp Presentation (PDF)
• Johannes Moenius Presentation (PDF - 52M)
• Event Agenda (PDF)
• Speakers' Bios (PDF)
  

Inland Empire Economic Forecast Conference on October 29th in San Bernardino

Next Wednesday, October 29th, is the fourth and final annual conference for 2008 produced by Beacon Economics, this time at the following location:

National Orange Show Events Center
Valencia Ballroom
689 South "E" Street, San Bernardino, California

Space is limited though, so if you want to go be sure to pre-register here or click on the link on the upper right-hand side of this blog.

Special offer for The Housing Chronicle Blog readers: email me at pduffy@metrointel.com for a code you can use when registering to save $50 off of registration (normally $150).

This event will focus on the Inland Empire. MetroIntelligence Real Estate Advisors is again participating in this event as a sponsor, including writing the real estate section for the conference books.

Want to learn more and attend? Read on:

Where do some of California's most renowned and straight-talking economists think local, state, and national economies are headed in 2009?

The Inland Empire: Ground zero in California's housing bust and recording massive numbers of foreclosures...

• Will the region suffer a long-run downturn or will demographic forces stimulate a quick recovery?
• Any sign of a bottom? When will builders see new demand?
• Are woes in the residential housing market spilling over into the retail and office sectors?.
• How will local government handle revenue shortages?

The State: California hit harder than the nation as a whole...

• Do the harder hits imply a quicker recovery?
• Will the Federal housing bill do anything to stabilize California's residential markets?

The Nation: Recovery, continued doldrums, or worse yet to come...

• Wall Street wreckage: what does it mean for the broader economy?
• Is the inflation boogie man really about to jump out of the closet?
• Has the Fed avoided a major banking sector collapse?

Featured Speakers
Jon Haveman Founding Principal Beacon Economics	Christopher Thornberg Founding Principal Beacon Economics	Stuart Dorsey President University of Redlands	Johannes Moenius Associate Professor University of Redlands

California's Budget Blues: Special Panel on Fiscal Reform

Jim Brulte (invited) Former California State Senator State of California

Daniel Mitchell Professor and Ho-Su Wu Chair in Management UCLA

Fred Silva (moderator) Fiscal Affairs Advisor Beacon Economics

Beacon Economics is pleased to announce that it has joined forces with the Inland Empire's University of Redlands in hosting its 2nd annual Inland Empire Economic Forecast Conference. Beacon’s track-record of truth-seeking economic analysis and the University of Redland's reputation academic rigor promise a candid, thought-provoking, and practical discussion. The event is already generating a buzz, and seating is limited. So reserve today!

Attendees also receive Beacon's new 2008 Inland Empire Economic Forecast Book. This original, in-depth look at the region’s labor markets, income, real estate markets, demographic trends, and other indicators, is a valuable and enduring resource for anyone facing important economic and financial decisions over the next year.

Click here to register.