In the News

As a new senior housing adviser to the Obama administration, USC's Richard Green said one of his top priorities is to make home ownership more possible for groups who've historically had trouble getting loans, such as immigrants.

His work in the Southern California region, as the Director of USC's Lusk Center for Real Estate, is informing his role at the Department of Housing and Urban Development where he will advise on housing financing.

"I’m convinced there are people who are safe credit risks who are not getting mortgage credit right now," Green said.

The U.S. Department of Housing and Urban Development (HUD) has named Richard K. Green, University of Southern California Lusk Center for Real Estate director, as a senior advisor for housing finance, according to an announcement from HUD.

The U.S. Department of Housing and Urban Development appears to have found a replacement for former HUD Senior Advisor Edward Golding, who recently took over as head of the Federal Housing Administration.

Los Angeles—The U.S. Department of Housing and Urban Development has named University of Southern California Lusk Center for Real Estate Director Richard K. Green senior advisor for housing finance. Green replaces Edward Golding, who was selected by the White House in March to head the Federal Housing Administration.

The U.S. Department of Housing and Urban Development has named University of Southern California Lusk Center for Real Estate Director, Richard K. Green, one of the nation’s preeminent housing economists, as senior advisor for housing finance. Green replaces Edward Golding, who was selected by the White House in March to head the Federal Housing Administration.

Richard Green, director of University of Southern California’s Lusk Center for Real Estate, on July 1 will begin a one-year appointment as senior adviser to the U.S. Department of Housing and Urban Development.

Green will advise HUD on ways to create a sustainable housing system, and one that would withstand market disruptions, according to a June 1 press release.

He replaces Edward Golding, who in March was appointed to the top spot of the Federal Housing Administration.

The accusation is blunt: Airbnb, say some, is sucking up apartment units that otherwise would be available to renters. In San Francisco, that claim is spoken so loudly - by so many politicians - a city agency just filed a report on it. 

Monterey Park is trying to address a problem that is widespread in many cities in the San Gabriel Valley. When single-family houses or condominiums are converted into illegal boarding homes, the commercial enterprises disrupt residential character and place undue burden on code enforcement as well as police and fire departments, city documents report.

Airbnb has been criticized for worsening LA's affordability's crisis, but could the short-term rental site actually help the situation? 

"If we break it down the typical house in Los Angeles costs about $400,000 to build so you're looking at maybe 12 or 13 houses a year that could be built with a fund like this," said Richard Green, Director of the USC Lusk Center for Real Estate.

After a year of sluggish demand, more homes sold and prices perked up in March as an improving economy and short supply pushed up the median home price by $10,000, according to a new report.

But whether strong price increases will continue is uncertain, economists said. If more owners don't list their homes for sale soon, the gains could accelerate as more buyers fight over slim pickings.

Job growth over the last year — as well as a period of subdued price appreciation — is giving more people confidence to purchase a home in pricey Southern California, economists said.