September 17, 2008
...Richard Green, who directs the University of Southern California's Lusk Center for Real Estate, said prices had reached a level that made buying a more attractive alternative to renting. "Owning is starting to make sense financially. That wasn't the case two years ago," he said. "Fundamentally, I think house prices in California are where they should be." Sales activity will likely be sustained by the recent dip in interest rates that followed the federal takeover of mortgage giants Fannie Mae and Freddie Mac, Green said...