[whoops, this link is now dead:
http://finance.yahoo.com/news/Was-There-Good-Reason-for-a-nytimes-3118998957.html?x=0
new link, fixed 12 Oct 2011:]
Homeowners and speculators in Los Angeles are hoping for a recovery. What are the prospects?
In my estimation, not very good for the near term. The last time Los Angeles real estate peaked in 1988 it took over 8 years to get back to even. The peak this time was much more pronounced, which will make the recovery that much longer and more painful. Look for a return to "normalcy" in Los Angeles real estate sometime in 2014 or 2015.
In my estimation, not very good for the near term. The last time Los Angeles real estate peaked in 1988 it took over 8 years to get back to even. The peak this time was much more pronounced, which will make the recovery that much longer and more painful. Look for a return to "normalcy" in Los Angeles real estate sometime in 2014 or 2015.
No comments:
Post a Comment