OC troll
New member
irvinehomeshopper said:Irvine is different from GG. One Irvine land baron controls all land asset. Without competition and careful development protect all future land value. GG had too many agricultural land barons under mining each others' land value just like supermarkets in Little Saigon that kept lowering prices to attract customers.
Irvine development is coming to an end. Bren's legacy is complete. The most talented and the seasoned of the in house design group were let go several years ago ranging from master planning, land planning, apartment development and etc.
You are the generation that will witness the end of development on the Irvine Ranch. There will be no more new homes to benchmark or illogically raise the price ceiling.
Without new growth the entire City will have to adopt a new way of thinking. City will have to adapt and survive without permit fees and other big ticket items. The political direction will have to serve the people rather than serving the corporate constituents.
TIC will be a property management company. It's portfolio has already expanded to many other cities in the US including locally the platinum triangle and Silicon Valley.
As the company no longer sell new homes property value protection will not be of the company's interest.
The focus will be to deter people from buying homes and to rent forever.
I have a few friends working at TIC and what you mentioned is consistent with what I've been hearing. I'm wondering if buying in high immigrant concentrated neighbors will impact resale in the future. Especially if many of the new immigrants seem to purchase for rental income. What are your thoughts? Would it be better to pick a development that has a greater mix?