July 16, 2008
...But Richard Green, newly appointed director of USC's Lusk Center for Real Estate, said prices may be nearing the bottom even in higher-priced areas. Green has been shopping for a house for himself in the Pasadena area.
"Two years ago I never would have bought a house" in the neighborhoods he is now shopping, he said. Green estimates homes he is considering have fallen about 20% in value since then, he said, which is far enough for him.
"I plan to live there until I retire, so if it goes down another 10% while I'm living there I will not care," he said...