In the News

The Baby Boomers will continue to dominate real estate and future business demand.

But two other segments also will have a big impact on housing, rentals and shopping centers: Immigrants and Generation Y, Stan Ross, chairman of the USC Lusk Center for Real Estate, told an Orange County gathering last week.

Speaking at the Lusk Center's Orange County briefing in Newport Beach, Ross outlined the following changes:

Immigrants to the U.S. now total 38 million, representing 12% of the U.S.

Wednesday's Journal takes a look at the first real test of the government's efforts to take a toe out of the mortgage market. Come October, the government will modestly reduce the maximum loan size that government entities can guarantee in certain high-cost housing markets.

In 2008, Congress raised the maximum loan amount that mortgage giants Fannie Mae and Freddie Mac and federal agencies could guarantee in certain housing markets.

International Property Developers announced plans to build a $3.5 billion office, residential, hotel and retail project in downtown Chicago, including a 120- story tower that would be the tallest in the U.S.

The closely held company, led by Monaco-based investor Bill Davies, filed a proposal for the development with city planners today.

Many Californians say their personal fortunes haven't recovered from the recession. A Times/USC Dornsife Poll shows that they're cutting household expenses, avoiding extras and forgoing home improvements.

As generation Y matures and boosts their buying power, their real estate activities may prove the boon the housing market needs, according to the University of California's Lusk Center for Real Estate.

Gen Y is comprised of 15 to 32-year-olds and boasts roughly 7.4 million members.

With competing plans in the House and Senate for raising the U.S. debt ceiling as of Wednesday, the warning bells for default are ringing louder than ever. On Tuesday evening, MHN talked with Christian L. Redfearn, associate professor at the USC School of Policy, Planning and Development and member of the Lusk Center for Real Estate, about what the situation might mean for the multifamily housing business.

MHN: If there's a federal default, or even a near-default, what happens then?

Redfearn: At the risk of sounding like an economist, it isn't clear yet.

Dr. Richard Green appears on CBS' Money Watch to discuss the debt-ceiling topic.

Housing industry executives awoke on Monday to a world reshaped by the U.S. downgrade, but for their corner of the financial markets the pain is mostly psychological.

Senior Research Associate with the University of Southern California Lusk Center for Real Estate Tracey Seslen discusses the current economic market.

Richard Green discusses his list of the most notable books and classics on business and real estate