Fear and Hope for the Future of California's Housing Market

Real Estate experts and economists convene in San Diego to discuss and debate the sustainability of California's recent rise in housing prices.

1 minute read

October 7, 2003, 2:00 PM PDT

By Connie Chung


"Realtors have an interesting dilemma ahead of them, said Leslie Appleton-Young, chief economist for the California Association of Realtors (CAR); at the same time that they will continue to celebrate the rising closing prices -- and subsequent commissions -- of homes across California, Realtors should be worried about the 'onerous' threat to affordability....There was a gap -- an unsustainable inconsistency, she said --between the rate at which California was losing jobs and the rate at which housing prices were skyrocketing. The lack of new-home construction may be behind the lack of supply and subsequent boost in demand, but eventually the lack of supply would force people out of the market -- and lower the demand. Some panelists who disagreed responded: "Housing prices may be going up, but they are not necessarily unsustainable....'House prices are still not that high,' said Richard Green, a professor of urban land economics....California home prices may be outpacing some of their counterparts in other states, he said, but they still have nothing on astonishing home values buyers see in places like London, Paris or Vancouver. Even in working-class neighborhoods, home prices in Europe's metropolises are far higher than here. That indicates a willingness of the people to live somewhere because of the inherent value of the place no matter how expensive it gets."

Thanks to Connie Chung

Thursday, October 2, 2003 in Yahoo! Newswire

portrait of professional woman

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Cover CM Credits, Earn Certificates, Push Your Career Forward

Logo for Planetizen Federal Action Tracker with black and white image of U.S. Capitol with water ripple overlay.

Planetizen Federal Action Tracker

A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

June 25, 2025 - Diana Ionescu

Person wearing mask walking through temporary outdoor dining setup lined with bistro lights at dusk in New York City.

Restaurant Patios Were a Pandemic Win — Why Were They so Hard to Keep?

Social distancing requirements and changes in travel patterns prompted cities to pilot new uses for street and sidewalk space. Then it got complicated.

June 19, 2025 - Diana Ionescu

Map of Western U.S. indicating public lands that would be for sale under a Senate plan in yellow and green.

Map: Where Senate Republicans Want to Sell Your Public Lands

For public land advocates, the Senate Republicans’ proposal to sell millions of acres of public land in the West is “the biggest fight of their careers.”

June 19, 2025 - Outdoor Life

Aerial view of town of Wailuku in Maui, Hawaii with mountains in background against cloudy sunset sky.

Maui's Vacation Rental Debate Turns Ugly

Verbal attacks, misinformation campaigns and fistfights plague a high-stakes debate to convert thousands of vacation rentals into long-term housing.

July 1 - Honolulu Civil Beat

White and purple sign for Slow Street in San Francisco, California with people crossing crosswalk.

San Francisco Suspends Traffic Calming Amidst Record Deaths

Citing “a challenging fiscal landscape,” the city will cease the program on the heels of 42 traffic deaths, including 24 pedestrians.

July 1 - KQED

Tents inhabited by unhoused people lined up on sidewalk in Los Angeles, California in front of industrial building.

California Homeless Arrests, Citations Spike After Ruling

An investigation reveals that anti-homeless actions increased up to 500% after Grants Pass v. Johnson — even in cities claiming no policy change.

July 1 - Times of San Diego

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.