May 12, 2001
Real estate executives met with business and political leaders at a recent conference hosted by the University of Southern California's Lusk Center for Real Estate, Inman News reported, and issued a dire warning:
California's energy crunch could have drastic effects on the new home market and further aggravate a major statewide housing shortage. The shortage of power and soaring energy costs is starting to be considered a "deal-breaker" and could force builders to postpone or cancel some new housing projects in the state. Industry executives in attendance said the current energy crisis and blackouts are the most serious problem facing their businesses