June 13, 2005
Annette Haddad, Times Staff Writer
Those homeowners willing to leave the area or downsize to smaller, less expensive homes probably have already done so, said Raphael Bostic, an associate professor at USC's School of Policy, Planning and Development.
"Now, you are left with a set of people who are looking to sell but also have to live in the area and therefore have to buy in the same area where they're selling," Bostic said. "That's a different market sentiment."