September 18, 2008
...Richard Green, director of USC's Lusk Center for Real Estate, said a foreclosure-dominated market was not necessarily a bad thing because the low prices could speed the market's price correction.
"Foreclosures set sort of an indicator price of where the bottom may be," he said.
Meanwhile, with thousands of additional foreclosures in the pipeline, prices are likely to continue to drop even as sales pick up, he and others said...