Gary Painter, USC Lusk Center for Real Estate, is quoted in the February 19, 2009 edition of the San Diego Union Tribune:
Median home price takes big drop in California
San Diego Union Tribune
...Gary Painter, a professor at the University of Southern California's Lusk Center for Real Estate, said the initiative and efforts to loosen credit could reverse the steady price drops. "That's the hope," he said. "Is that going to happen? I don't know." The rescue efforts could tame the inland bargain-hunting that Walsh said is driving sales.
"It's hard to imagine resale activity getting much stronger in many inland areas, especially if the deep discounts fade as a result of new efforts to stem foreclosures and stabilize prices," he said. "You might actually see a decline in the number of sales if people are able to stay in their homes."...
February 19, 2009