Economist says CA real estate market has cooled
Thursday, February 16, 2006
UCLA's Christopher Thornberg says the boom in home sales has peaked.He warns prospective home buyers to avoid interest-only loans or other financial
Thornberg: "Whatever you do, don't buy outside your current financial means and expect appreciation to bail you out. That's the fundamental rule for real estate right now. Be very, very cautious.
Thornburg authors the quarterly Anderson Forecast for the state. He says the downturn in home sales means fewer jobs in real estate and the construction industry. Ed Joyce, KPBS News.
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