Dr. Richard Green, Director of the USC Lusk Center for Real Estate, is quoted in the June 11, 2009 edition of Wisconsin State Journal
Expert optimistic about housing market
Wisconsin State Journal
By Karen Rivedal
...The nation could see a much needed housing recovery sometime in 2010, but unemployment and foreclosure rates will likely worsen between now and then as the economy struggles to get on track, according to experts at a housing conference Thursday at University of Wisconsin-Madison.
"Just try to hang on for another year," keynote speaker Richard Green told an audience of about 100 bankers, developers, real estate agents and other housing professionals gathered at the Fluno Center...
...Green, a real estate professor at the University of Southern California at Los Angeles and a former director of financial strategy for Freddie Mac, had a simple answer for what it would take to convince him that the housing market was on the mend.
"When housing starts go up, then I'll start feeling a lot better," he said. "Until housing picks up, I can't see what the driver (to economic recovery) would be..."
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June 11, 2009