Housing Market Slowdown Could Stall Or Change State's Urban Transition
21 September 2007 - 10:14am
| Author: William Fulton
It’s undeniable: California is in the worst housing bust since the early 1990s. Sales have dropped by a third compared with last year. Prices are stable for now, but nobody knows what will happen once all those bank repos hit the market. And it’s pretty clear that developers all over the state are sitting on their entitlements. Nobody’s building anything unless they absolutely have to.
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