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Article: Real estate experts hopeful low interest rates will spur home sales. (Los Angeles, California) (Economic Forecast 1991)
- Article from:
- Los Angeles Business Journal
- Article date:
- January 7, 1991
- Author:
CopyrightCOPYRIGHT 1991 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Real estate experts hopeful low interest rates will spur home sales
The dawn of 1991 brings no sunshine to the gloomy streets of Los Angeles County real estate.
Industry analysts report the coming year will see local housing starts slow to a snail's pace, layoffs exceed 1990 levels, property foreclosures soar and lenders' purse strings tighten even further.
"Real estate was bad in 1990, but it's going to look good compared to what's on tap for 1991," asserted Charlotte Chamberlain, vice president of National Economic Research Associates. "Thrifts have pulled out and no other lenders have stepped up to the plate to replace them."
The ...