Southern California home prices jump again

Los Angeles Times quoted Richard Green, director of the USC Lusk Center, on his expectations for rising home prices. This is different than the housing bubble, which was fueled by real estate speculation, Green said. Now it’s a simple case of low supply and high demand in an area that is attracting more upper-income workers,…

Home prices in parts of Southern California are at record highs — and keep rising

Los Angeles Times quoted Richard Green, director of the USC Lusk Center, on rising home prices in California. Economists said that absent a recession or a surge in mortgage rates, California home prices could keep climbing at 5% a year for the foreseeable future. That’s faster than the long-term average of 3% nationwide, but it’s…