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NEWS 3
Philosophers discuss objectivity OPINION 4
TITANium stresses student troubles DETOUR 5
Superheroes battle to be best comic SPORTS 6, 8
Volleyball splits weekend matches
City and university officials should do more to protect student-pedestrians. SEE OPINION 4
Vo l u m e 9 2 , I s s u e 3 1
LOCAL | Real estate
M O N D AY, O C T O B E R 2 9 , 2 0 1 2
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ECONOMY IN MODERATE RECOVERY
OC home values jump, report shows Housing in the last year has risen more than 12 percent as a result an economic uptick experts say DANIEL HERNANDEZ Daily Titan
Showing signs of a healing housing market, home values in Southern California turned positive for the first time in almost two years, according to a report released from the Institute for Economic and Environmental Studies at Cal State Fullerton. Per the report, Orange County is showing the strongest value increase in Southern California. The median housing price for a detached singlefamily home in Orange County stood at about $562,000 in September—approximately 12 percent higher than in 2011, according to California Association of Realtors statistics. “Both the demand and supply side for housing are turning positive,” said Institute for Economic and Environmental Studies director Anil Puri, Ph.D. “Our forecast is that O.C. housing prices will increase 5 percent to 7 percent in 2013.” The last three years of economic decline suppressed home building, which aided in shrinking the supply of houses, Puri said. Recently, the rising demand for houses and a leaner market have increased the value of homes, said Puri, who is also the dean of the College of Business and Economics at CSUF. Record-low mortgage interest rates, investors who see a chance at capitalizing on a spurring market and a low supply chain are also fueling the rise in home values in the desirable Southern California market. With home construction down from the recession and sellers reluctant to list their homes, government affairs director for the Orange County Association of Realtors Dave Stefanides said Orange County has hit a shortage of houses on the market. “California needs to see some 200,000 to 220,000 new homes constructed annually to keep pace with natural population growth and household formation,” Stefanides said. “We’ve not done that for at least five years.” Entry-level homes below $500,000 are in short supply, Stefanides said, and investors are swooping in and purchasing them fast in addition to the expectation of inflation in the next five years. “If you are concerned about inflation, as many are, then real estate investment provides a hedge against it, ” Stefanides said. “Add in the fact that Orange County is a desirable place with a fantastic climate, coastline, colleges and diverse economy, then you will understand why so many investors are in the market.” SEE HOUSING, 3
ROBERT HUSKEY / Daily Titan
(Left to right) Speakers Anil Puri, Ph.D., Andrew Cecere and Mira Farka, Ph.D., present their views on the economic uptick based on their research.
Experts call economic rebound Economics professors presented their favorable 2013 economic forecast Thursday
DAVID HOOD Daily Titan
The economy, which has been weighing heavily on the hearts of the unemployed, the “1 percent” and everyone in between, is finally on a moderate rebound, according to Cal State Fullerton’s 2013 economic forecast released Thursday. The report outlines how the national, Southern California and Orange County economies are doing and how they will behave in the next fiscal year. “This is our forecast: the basic message from what is happening in the economy right now, in the short-term, in the cyclical factor, is that our economy is going to grow at a moderate rate,” said Anil Puri, Ph.D., dean of the College of Business and Economics at CSUF. Consumer confidence, an economic indicator based on buying from regular
consumers, is what is key to an ultimate reability -- reigning in budget covery, said Andrew Cecere, U.S. Bancorp (U.S. Bank) chief financial officer and vice 100 tory relative to long-term chairman. GDP growthhigh (Figure Additionally, he attributed un-8). 90 employment to a lack of consumer con80 haul of the entitlement fidence in the stumbling economy and 70 uncertainty of the outcome of the Nov. 6 60 election, which will determine the direction for interest rates and regulatory taxa50 tion for businesses and work consumers alike. of a “grand bargain” 40 “I really think we’re in a very good position from an economic standpoint,” said 30 tionalized to all Cecere. “I think there are a lot ofapproach positives, 20 but I think the only thing that’s very negative is certainty.” 10 Cecere said domestic banks have about 0 $1.4 trillion sitting in the Federal Reserve 1960 and are ready to lend to consumers at reWhat is included in the “Fiscal Cliff”? cord-low interest rates. SEE ECONOMY, 3
(percent)
Historical Baseline Case Alternative Scenario
1988
2020
Source: Institute for Economic and Environmental Studies
These cuts, which were initiated in 2001 and expanded in 2003,
CAMPUS | Sports
CAMPUS | Lecture
CSUF hosts violence prevention
CSUF Men’s soccer ambushes Anteaters The Titans shutout UC Irvine 1-0, avenging a tough loss earlier in season
Authorities say one in ten seniors about 65 or older are victims of abuse according to their studies
SERGIO GOMEZ For the Daily Titan
JONATHAN WINSLOW Daily Titan
Students and faculty gathered in the Titan Student Union at Cal State Fullerton Saturday to attend the 13th annual Violence Prevention Conference that reported on trends in elder abuse. This year’s conference, titled Voices of the Victims: Abuse Across the Lifespan, featured a host of speakers that included Orange County Superior Court Judge Nancy Wieben Stock, community educator Robert Diaz, and authors Julia Chadwell and Alyce La Violette, who have both written about domestic violence. Also included this year was a panel on elder abuse, which included experts Cristi Dugger of Human Options, Joyce Riley from Orange County Adult Protective Services, Erin Tinoco of the Anaheim City Attorney’s Department
Public Debt as Percent of GDP Figure 8 of Public Debt as Percent GDP (percent) Public Debt as Percent of GDP
SUE LAGARDE / Daily Titan
A panel of experts present their findings on elder abuse at a conference at the Titan Student Union Saturday titled “Voices of the Victims: Abuse Across the Lifespan.”
and detective Cherie Hill of the Anaheim Police Department. The panel pointed out that although elder abuse may not be as well known of an issue as other types of domestic abuse, it is still very prevalent.
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“This is a huge problem. They just did a study and they found that every year, one in ten seniors about 65 or older are victims of abuse,” Dugger said. SEE ABUSE, 3
Cal State Fullerton men’s soccer avenged their 2-1 loss to UC Irvine on Oct. 13 by defeating the Anteaters 1-0 at Titan Stadium Saturday night. “Losing to Irvine the last game was really hard because we felt that we should have won that game, but coming back here and getting the win proved that we should have won both games,” said Titan senior Gerzon Blanco. After scoring the game winner in Fullerton’s 3-2 double-overtime win over UC Riverside last weekend, Blanco did it again as he lifted the Titans (7-10-1, 3-4-1 in conference play) with the winning goal to break a scoreless tie in the 83rd minute of the match.
“It was a great team effort out there, from the defenders to the forwards and midfielders. Everyone did a great job that allowed me to have a chance at the end,” Blanco said. With the Anteaters (4-13-1, 1-7 in conference) fighting for their season, the Titans’ defense stepped up and held the game scoreless despite being outshot 15-10. UC Irvine set the tone early by taking control of the match from the start, and nearly broke through early. Christopher Santana got a shot from 20 yards out deflected off a Titan defender, but junior goalkeeper Bryan Escalante was there for the block. “Bryan (Escalante) makes me age, he is full of energy and sometimes too much for my liking, but he definitely plays with his heart out there and, fortunately, he was in the right place at the right time tonight,” said Head Coach Bob Ammann. SEE MEN’S SOCCER, 8