December 1, 2005
Misty Williams When house prices plummeted in the early 1990s, especially in Southern California, there was a serious recession, said Delores Conway at the University of Southern California's Lusk Center for Real Estate. Thousands of people lost their jobs and put their houses on the market, creating a huge surplus. "As long as we have a steady job growth then people are not forced to sell," Conway said. Even if house prices do dip, it should be a minimal drop, she said. "You would not expect them to come crashing down," Conway said.