Miss the Inland Empire Economic Forecast Conference?

If you missed the Inland Empire Economic Forecast Conference hosted by Beacon Economics on May 19th in Redlands, fear not -- you can still download a copy of the conference book (MetroIntelligence wrote the sections on residential and commercial real estate) as well as .pdf version of each speakers' PowerPoint files:

Conference book

Chris Thornberg's presentation (national trends)

Brad Kemp's presentation (regional trends & forecast)

Johannes Moenius (Inland Empire housing)

Jim Brulte (history of liberal vs. conservative ideology)

John Rossi (California water delivery system & issues)

Inland Empire Economic Forecast Conference - May 19, 2009!

A quick reminder for the Beacon Economics 2009 Inland Empire Economic Forecast Conference next Tuesday, May 19th, at the University of Redlands campus. Want to sign up? Click here.

Email us at info@metrointel.com for the special discount code you can use to save money on admission! MetroIntelligence Real Estate Advisors has written the real estate sections (residential and commercial) which appear in the 100+ page book that's given out to all conference attendees.

More about this conference:

2009 Inland Empire Economic Forecast Conference University of Redlands 1200 East Colton Avenue Orton Center Redlands, California Tuesday, May 19, 2009 Registration and Breakfast 8:00 AM Program: 8:30-11:00 AM Recession or Depression in 2009? How bad is it really going to get? On Tuesday, May 19, 2009 Beacon Economics joins with The University of Redlands to host their third annual Inland Empire Economic Forecast Event. Featured Speakers Christopher Thornberg Founding Principal Beacon Economics Brad Kemp Director, Regional Studies Beacon Economics Stuart Dorsey President University of Redlands Johannes Moenius Associate Professor University of Redlands Inland Empire: Current and Emerging Issues Panel Jim Brulte Principal California Strategies LLC John Husing Vice President Economics and Politics Inc. John Rossi General Manager Western Municipal Water District

Register now and receive: Special recession pricing: $75 until May 15, after which: $100 2009 Inland Empire Economic Forecast Book 1 year of quarterly updates to the Inland Empire forecast 1 year subscription to The Beacon, our new quarterly national and state forecast report Get answers to 2009's burning questions... Are fears of depression realistic or just hype? Will the Federal stimulus plan help? Will California be the first or last to emerge from the darkness? Rocked by foreclosures, where is the Inland Empire housing market headed in 2009? All conference attendees receive Beacon's new Inland Empire Economic Forecast Book - an unprecedented overview of the region's current economic conditions and analysis of what the near future holds.

San Diego Conference materials now online

If you missed the April 14th Economic Forecast Conference in San Diego, you can still review the speakers' presentations as well as download a copy of the 100-plus page book which was given to all attendees:

Click on the links below:

Conference Book

Christopher Thornberg Presentation

Brad Kemp Presentation

Gary London Presentation

The next forecast conference by Beacon Economics will cover the Inland Empire and take place on the morning of May 19th at the University of Redlands.

Click here for more information or to register!

Beacon Economics announces Inland Empire Forecast Conference

MetroIntelligence partner Beacon Economics has announced that the 2009 Inland Empire Economic Forecast Conference will take place at the University of Redlands on the morning of Tuesday, May 19th.

Featured speakers will include Christopher Thornberg and Brad Kemp from Beacon Economics, Steve Dorsey, the President of the University of Redlands, and associate professor Johannes Moenius.

On the agenda that day:

• Are fears of depression realistic or just hype?
• Will the Federal stimulus plan help?
• Will California be the first or last to emerge from the darkness?
• Rocked by foreclosures, where is the Inland Empire housing market headed in 2009?

All conference attendees receive Beacon's new Inland Empire Economic Forecast Book - an unprecedented overview of the region's current economic conditions and analysis of what the near future holds. Both and residential and commercial real estate sections will be authored by MetroIntelligence Real Estate Advisors.

Click here for a brochure/registration form you can print out in .pdf form, or click here to register online.

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)