2022 California Economic & Housing Market Forecast Otto Catrina, 2022 President                                                  California Association of REALTORS®

Otto Catrina is a local realtor and the 2022 president of the California Association of Realtors. He has worked extensively for the benefit of the community. He has a BA in government from the University of San Francisco, and lives in Castro Valley with his wife. They have three children and four grandchildren.
Mr. Catrina gave an outstanding summary of the real estate situation in California, Alameda County, and Castro Valley. The real estate market is moving has been crazy, but seems to be moving back to something akin to normal. There is reason for cautious optimism, but there are some things to keep an eye on. His message overall was, “Don’t panic."  The four points on this slide perfectly frame Mr. Catrina's presentation.
There does seem to be a housing bubble. The indicators are that prices will continue to rise in Castro Valley. He provided plenty of data to support his position. For example, the number of houses for sale here is very low and far lower than normal. The average cost of a home in Castro Valley is now $1.4 million, and the median is $1.3 million. The state median is $719,000, and the county median is $1.2 million.
The situation is similar in Hayward and San Leandro. About 35% of buyers are first-time buyers, and they are able to afford a home with the help of their parents or stock options. However, only about a quarter of the population can afford to buy a home. California’s population is in flux. A lot of people are moving out of state because of the prices, but just as many are moving in. Our population has remained fairly constant. The market for second homes exploded during the Covid pandemic.
All of this put together made 2021 the best year for real estate in the decade. About 18.6% of all sales were for all cash, and 84.3% in Castro Valley were over the asking price. There is an astounding amount of money available in California for buying homes.

Click here to watch the video of the presentation.  Click here to view Mr. Catrina's very detailed and information slides from the presentation.
Birthdays this week
Todd Anglin and Aaron Lewis
Community Foundation:
President Dwight announced that members will receive the latest version of the bylaws and articles of incorporation by email this week. The club will vote on the foundation at the next lunch meeting.
The Rotary Foundation (TRF):
President Dwight presented a Paul Harris Award to Ray Wallace for his support of TRF.
Car Show:
President Dwight said that the car show planning is underway. The committee, headed by Dave Sadoff, will meet later this month.
Rodeo Parade/ & Chili Cook-off:
Randy Vanderbilt and Lytrel Carter noted that their committees are moving forward and the two events are on for May.  TheCommittees meet the first Tuesday of the month from 5:30-6:30 pm at Direct Sales Floors.  Volunteers are needed.
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