UCLA Real Estate Wire

Wall Street Journal: "Coronavirus-Triggered Downturn Could Cost Five Million U.S. Jobs"

“'A public health emergency is morphing into an economic emergency,' said David Shulman of the UCLA Anderson School of Management. 'The basic outlines of the economy will be determined more by biology than by economics.'"

[WSJ: 3/21/2020]

Bisnow: "'Time To Get Serious About Affordable Housing' — UCLA Kicks Off Affordable Housing Executive Program"

"“It’s time to get serious about the affordable housing crisis going on in the state,” UCLA’s Richard S. Ziman Center for Real Estate Director Stuart Gabriel said. “We have among the most serious affordability problems in the country. … What happens [when we don’t build affordable housing] is our metropolitan areas become less economically viable. We draw fewer jobs and more jobs leave and all the economic activity surrounding those jobs doesn’t appear. Without the opportunity to house workers, jobs will go elsewhere.”"

[BN: 2/11/2019]

Los Angeles Business Journal: "Housing: Ease of Broker, Agent Careers Oversold"

"A lot of agents are sort of attacking the same markets like hyenas,” said Eric Sussman, a lecturer at UCLA’s Ziman Center for Real Estate and a managing member of Clear Capital, a real estate private equity firm. “There are only so many mouths you can feed with so many transactions. The supply of residential properties in a market like Los Angeles is relatively fixed. You don’t see a gazillion new homes or condos being built. And you have people here already to sell that supply. It’s a zero-sum game...”

[LABJ: 4/17/17]

Bisnow: "Why LA's Industrial Market Is One of the Country's Hottest"

"Rexford Industrial chairman Richard Ziman (right) says the geopolitical world is in chaos, with uncertainty in many places, especially China, and what  happens there affects here (it's a flat world these days). Even so, he doesn't see so many black clouds on the horizon here, especially for real estate, with jobs and housing growing. Investment capital is still coming to US markets from around the world. Richard gave the keynote, with UCLA Ziman Center for Real Estate director Stuart Gabriel moderating..."

[Bisnow 9/3/15]

LA Times Opinion: "Raise The Minimum Wage, But Don't Forget About The Cost of Housing"

"One of the best reasons to raise L.A.’s minimum wage is the region’s incredibly high cost of housing. Metropolitan Los Angeles is ranked the least affordable rental market in the nation because the city has a dual problem -- low incomes and high costs. Rosalie Ray with UCLA’s Center for the Study of Inequality made the same point last year during a Westside Urban Forum discussion on the rental rate crisis in L.A. She was a coauthor of a study that said Los Angeles is least affordable rental market in the nation and that the solution was to increase renter earnings and the supply of affordable housing..."

[LA Times Opinion 3/30/15]

Los Angeles Downtown News: "Huge Project Breaks Ground in South Park This Week"

"The big investment from a major Chinese company is not surprising to Eric Sussman, a real estate expert and lecturer at UCLA’s Ziman Center for Real Estate. Increasing government regulations and slowing economic growth has inspired many Chinese investors to take their capital abroad, he said, particularly to the West Coast of the United States and Canada. Making a splash with a landmark development in Downtown makes long-term sense, he added. “The Chinese are not going to do suburban projects, so you’re going to see activity in central business districts,” Sussman said. “They’re looking for safe havens for their investment and that’s in major urban hubs.”..."

[Los Angeles Downtown News 3/16/15]

MarketWatch: "Less Than Half Of U.S. Cities Are Affordable For People Who Earn A Median Income"

"Being priced out of buying a home in the country’s major cities means more multi-family buildings in big cities and more people moving into second-tier cities and rural areas, says Stuart Gabriel, director of UCLA’s Richard S. Ziman Center for Real Estate. “The consequences are large,” he says, “and they’re not just about affordability. It affects economic growth and economic viability of our major metropolitan areas.”..."

[MarketWatch 11/14/14]

The Wall Street Journal: "In Office Market, L.A. Is A Real Drag"

"Paul Habibi, a professor of finance and real estate at UCLA’s Anderson Graduate School of Management, estimates that 100,000 square feet of office space has been absorbed downtown this year.
“That’s a drop in the bucket.…It’s not enough to move the needle and that’s in light of the fact that zero new square feet of office space has been delivered downtown,” he said..."

[WSJ 10/28/14]

89.3 KPCC: "Business Summit: Linking Jobs, Homes And Transit Is Key To LA's Future"

"The utopian concept of "co-location" - placing jobs near housing  - has been elusive in Los Angeles, says the study's author,  Dr. Paul Habibi, Professor of Real Estate at the UCLA Anderson School of Management and Ziman Center for Real Estate.  Land is so costly throughout LA, says Habibi, that he sees more hope in linking "housing centers" and "job centers" through mass transit, rather than trying to keep them close together..."

[89.3 KPCC 10/18/13] 

89.3 KPCC: "Post-Shutdown: SoCal Economy Could Take Months To Recover From The Damage"

"The shutdown may have also put a damper on the Southern California's housing market. The Federal Housing Administration was working with a skeleton crew during the shutdown and it's possible that FHA-insured mortgage loans may have been delayed, said Stuart Gabriel, director of the Ziman Center for Real Estate at UCLA. Gabriel also said some consumers may have put off buying or selling their home due to the shutdown..."

[89.3 KPCC 10/17/13]