Dr. Delores Conway, director of the Casden Real Estate Economics Forecast at the USC Lusk Center for Real Estate, is quoted in the April 28, 2009 edition of the Wall Street Journal:
More Homes in California are Selling
Wall Street Journal
By Stu Woo
...Stimulus efforts helped the state's home sales in the month, said Delores Conway., a professor at the University of Southern California's Marshall School of Business. Some Californians benefited from about $8,000 in credit for first-time home buyers from the federal economic-stimulus plan, and some from an additional $10,000 credit from a state stimulus measure. Depressed prices of houses are luring first-time buyers, she added.
But the March improvements are partly statistical, Ms. Conway added, because the number of sales in March 2008 was especially low. And California's unemployment rate, one of the nation's highest at 11.2%, may also delay any housing-market recovery by resulting in more foreclosures, she said...
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