Dr. Delores Conway, director of the Casden Real Estate Economics Forecast at the USC Lusk Center for Real Estate, is quoted in the May 29, 2009 edition of the Associated Press
Lennar tries to reclaim role in huge SoCal project
Associated Press
By Jacob Adelman
...Homebuilder Lennar Corp. is pitching a plan to resolve the bankruptcy of the 21,000-home Newhall Ranch project, which is on the last major tract of undeveloped land in Los Angeles County...
...Delores Conway, director of the Casden Forecast at the University of Southern California Lusk Center for Real Estate, said developers have little incentive to begin building until buyers have absorbed the large existing inventory of unsold homes in the nearby San Fernando Valley.
However, the property's easy freeway access to employment centers would make it a prime location to build after the housing market rebounds, she said.
"In the short-term, there's not going to be any building going on," Conway said. "The whole issue is how long is the long-term..."
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