No ‘double dip’ seen in Calif. housing

October 1st, 2010, 10:00 am
by Jon Lansner

The latest forecast from Beacon Economics — which features economist Chris Thornburg, an early seer of the housing debacle — suggests that the recent lull in California home sales is temporary, that the market won’t revert back to its in-collapse mode and that modest appreciation for values is in the cards.

“Fears over a major double dip in home prices are likely misplaced. While demand for homes has fallen (as measured by home sales) since the homebuyer tax credit expired, and there has been some weakness in prices as a result, the fundamentals all indicate that California’s real estate market is emerging from this recession in a healthier position,â€