The other day I posted an article explaining price trends since WWII and also predicting the trend for coming decades. It's a good article, but it has a fundamental flaw:
The article never mentions echo boomers, the children of baby boomers. This generation, born between 1982 and 1995, makes up nearly 25% of the country's population and is far bigger than the baby boomer generation. These people are going to start buying homes in 15-20 years. That's a ways off, but it is also a lot of new demand. And price trends (as well as market cycles) is based on supply and demand.
Of course, Long Beach and surrounding communities, like the rest of the country, will see price appreciation from the increased demand. But we are also poised to experience increased demand from local forces far sooner than 20 years. More on these local forces later.
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