February 1, 2009
Brighter Skies Ahead After a Cloudy First Quarter
Long Beach Business Journal, February 2009
By Ashleigh Oldland
...Dr. Delores Conway, director of the Casden Real Estate Economics Forecast at the USC Lusk Center for Real Estate, has seen similar trends in Los Angeles County. "What we are seeing is the inventory levels coming down quite a bit - in other words, these homes are selling," Conway told the Business Journal...
..."The positive is that prices have already fallen a lot," she added. "In Long Beach they are probably 40 percent off of their peak. Monthly payments are approaching where the average rents are, and so the affordability has improved"...