According to the funny papers, the justification for tripling the number of homes in Irvine's Great Park is the tremendous demand for new homes. But this just came from the Orange County Business Journal e-mail alert. (We'd link you to the story, but those slick-haired OCBJ money-grubbers make you pay!):
PROFIT FALLS AT IRVINE HOMEBUILDER
Higher interest rates, more unsold homes, falling affordability and weaker home-buyer confidence contributed to a drop in profit at Irvine-based Standard Pacific Corp. in the second quarter.
This is also something to keep in mind when Chapman U's Doti and his cronies fill their sunny OC economic forecasts with dire warnings about a need to build still more new McMansions.
OC Weekly Editor-in-Chief Matt Coker has been engaging, enraging and entertaining readers of newspapers, magazines and websites for decades. He spent the first 13 years of his career in journalism at daily newspapers before “graduating” to OC Weekly in 1995 as the alternative newsweekly’s first calendar editor.