So it was a great forum last night. We’re estimating that there were about 150 people there. And I’m pretty sure 90 percent of them had a question — sorry we couldn’t get to everyone’s.
The good thing about having a couple of speakers on the panel who also blog on their own is that we don’t have to carry the water entirely reporting what was said. Here’s a link to Jim Klinge’s take and here’s KB’s. Hopefully soon we’ll have the audio of the event up on the site for anyone who wasn’t able to make it.
Also, Andrew Donohue and I will be talking at length about the event on our radio show Sunday, AM 600, 12 p.m.. Finally, if you miss that broadcast, it will be available on the right side of this page.
Overall, I thought it was a great discussion. People are really hungry for digestible information about the economy — especially the local housing market. Should they hold off on their plans to buy a home? Should they put off retirement? When will the stimulus funds hit the region?
Again, check out Kelly Bennett‘s roundup of what was said. I’m running low on brain cells and am in no position to try to recall accurately what was said. Here’s a taste of her notes:
Klinge mentioned the places (like his recent foreclosure listing in Oceanside) where prices are right and are sparking bidding wars. He shared a rule of thumb for figuring out pricing in this market: “If you see houses in your neighborhood selling within the first week, all that means is they’re getting the price right.”
Some recession notes from Ratcliff: We’ve had 11 recessions since World War II that are “cut from the same cloth,” he said. All of them begin with the housing market. San Diego usually, because of its higher-educated workforce, does better than the rest of California and the nation in terms of unemployment. But not this time: “In this recession, we’re actually doing worse,” he said.
Toscano said he’s watching the rate at which the federal government is able to borrow money to keep stimulating the economy. At some point, the entities lending it money could change the terms or stop lending money entirely, which could prove devastating to the economy.
Anyway, thanks again. Let me know what you think we should have a discussion on next.