March 27, 2012
Gary Painter, an economist with the USC Lusk Center for Real Estate, says that falling prices are not so much a reflection of market health, but rather the result of banks disposing of distressed assets by offering low prices to cash buyers.
"When employment and rents increase at the local level, more buyers will see the value of entering the single-family market. If the economy continues moving in this direction, it is likely...we are moving toward recovery."
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