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New 10 year Report On Southwest California Demographcs Available

Public Policy Paper
By far the most comprehensive study of the Inland Empire region of Southern California in recent years has just been published by the Public Policy Institute of California. Compiled by Hans Johnson, Deborah Reed and Joseph M. Hayes, the report examines the economic and demographic trends of our region out through 2015. The analysis is summarized in a 141 page report replete with charts, graphs and analysis of population growth, migration, job growth, ethnic make-up, educational challenges and political activism.

Among the more interesting points from a real estate perspective:
  • The fastest growing region of a fast growing state will soon be home to a population larger than Oregon's.miogration patterns
  • The Inland Empire has grown by more than 50% since 1990, twice the rate of the rest of California. 
  • Once sleepy areas like Temecula and Murrieta have seen their populations increase from around 20,000 to nearly 100,000 during that time. 
  • Affordable housing and job growth will continue to be the driving engine
  • Population growth will continue to exceed job growth ensuring that the region will also remain one of the nations largest commuter communities
  • Despite skyrocketing foreclosures and a sluggish economy, the Inland Empire will remain the fastest growing region in the state as people continue to flee high priced coastal areas.
  • Traditionally this has been an area of exaggerated boom & bust cycles and undoubtedly there will be a recovery.
  • The mortgage crisis has hit the area hard. 1,000's of homeowners have defaulted on their loans resulting in a glut of REO properties on the market with builders slashing the prices of new construction to attract buyers.
  • Southwest California, including Temecula, Murrieta, Lake Elsinore and Menifee could add as many as 150,000 residents to the 400,000+ already calling the area home. 
The entire report is available at The Public Policy Institute of California website.
Gene Wunderlich - Selling Southwest California Homes including Temecula, Murrieta & The Southern California Wine Country
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Posted Tuesday Apr 29

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