Ten10 Santiago, San Clemente

A few months ago as we were nearing completion on our Ten10 Santiago mixed-use project in San Clemente the world changed... As we start to take small steps to re-open our economy we're going to start to see what the world might look like. In our housing market in Southern California there is still a major shortage of inventory. A lot of builders are going to be holding off starting new projects until we get a better picture of how the economy sputters back to life, but I do think that Buyers are going to make decisions that impact the quality of their lives - especially if they are able to move closer to the beach, with outdoor space and room that allows work from home. Professionals are probably going to spend more time working from home if their jobs allow, and will try to live in communities that are well amenitized with trails, authentic Downtowns with good restaurants - likely take-out for now - but that will change. Interest rates are at historical lows - considerably lower than they were in 2005 through 2008 - meaning in absolute terms I still think buying a home now represents a long term buying opportunity.