Gary Painter, USC Lusk Center for Real Estate, is quoted in the May 12, 2009 edition of the Long Beach Business Journal:
Second Quarter Finds Markets Searching for Signs of Rebound
Long Beach Business Journal
...The battered U.S. real estate market is still weak, but local economists and industry professionals say they are closely watching for signs that a rebound may be on the way.
Economist Dr. Gary Painter of the University of Southern California's (USC) Lusk Real Estate Center says home prices are at or near the bottom, but anxious consumers may still have months to wait for a full recovery.
"What that doesn't mean is that we're going to have a quick rebound," Painter cautions. "What you're going to probably see over the next few months is one month of maybe slightly better news, and another month of slightly worse news. . .[Home prices] could go down another couple of percents, but it's not going to go down in the manner that it has gone down over the past two years..."
May 12, 2009