October 16, 2005
Nonetheless, buyers see falling prices in the wake of a disaster as a way into an otherwise blocked market. "It's a natural impulse to try to take advantage of those opportunities, particularly if there's a perception (the disaster) won't occur on a frequent basis," said Raphael Bostic, a real estate professor at the University of Southern California. "The reason people want to live there is because it's nice -- and really difficult to find."