The “Inexorable Demand” Meme Rears Its Head Again

[CricketOnTheHearth]

Amidst an article pondering whether future housing development will be “vertical” or “horizontal”, the SacBee’s Dan Walters trots out this old chestnut:

California’s housing meltdown is wreaking economic and personal havoc, but it won’t last forever.

The state’s ever-growing population will soak up the now-vacant housing units in a year or two, and home building will resume, driven by the inexorable demand.

Yeahh…. right…. when those inexorable hordes can actually afford the extra houses. Which looks, from Rich’s other graphs, like it will be more than “a year or two”.

[an]

Well, the guy might be right with his 1-2 year prediction, if the price keep on falling the way it has been the last 2 years. Most of those places already lost 40-50% by now, so another 40-50% off would find plenty of buyers to soak up all those houses.

[an]

Well, the guy might be right with his 1-2 year prediction, if the price keep on falling the way it has been the last 2 years. Most of those places already lost 40-50% by now, so another 40-50% off would find plenty of buyers to soak up all those houses.

[an]

Well, the guy might be right with his 1-2 year prediction, if the price keep on falling the way it has been the last 2 years. Most of those places already lost 40-50% by now, so another 40-50% off would find plenty of buyers to soak up all those houses.

[an]

Well, the guy might be right with his 1-2 year prediction, if the price keep on falling the way it has been the last 2 years. Most of those places already lost 40-50% by now, so another 40-50% off would find plenty of buyers to soak up all those houses.

[an]

Well, the guy might be right with his 1-2 year prediction, if the price keep on falling the way it has been the last 2 years. Most of those places already lost 40-50% by now, so another 40-50% off would find plenty of buyers to soak up all those houses.

[cr]

Someone should let this guy know we’re in a recession and that means jobs will be lost, not suddenly start paying everyone in the state $120,000/yr.

[cr]

Someone should let this guy know we’re in a recession and that means jobs will be lost, not suddenly start paying everyone in the state $120,000/yr.

[cr]

Someone should let this guy know we’re in a recession and that means jobs will be lost, not suddenly start paying everyone in the state $120,000/yr.

[cr]

Someone should let this guy know we’re in a recession and that means jobs will be lost, not suddenly start paying everyone in the state $120,000/yr.

[cr]

Someone should let this guy know we’re in a recession and that means jobs will be lost, not suddenly start paying everyone in the state $120,000/yr.

[bubble_contagion]

Yestereay there was an article in the U-T explaining that there is a 20% office space vacancy in San Diego County. That means bussiness are not growing and are not moving to San Diego. Where will this so called inexorable demand will come from?

[bubble_contagion]

Yestereay there was an article in the U-T explaining that there is a 20% office space vacancy in San Diego County. That means bussiness are not growing and are not moving to San Diego. Where will this so called inexorable demand will come from?

[bubble_contagion]

Yestereay there was an article in the U-T explaining that there is a 20% office space vacancy in San Diego County. That means bussiness are not growing and are not moving to San Diego. Where will this so called inexorable demand will come from?

[bubble_contagion]

Yestereay there was an article in the U-T explaining that there is a 20% office space vacancy in San Diego County. That means bussiness are not growing and are not moving to San Diego. Where will this so called inexorable demand will come from?

[Author]

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