L.A. Housing Market Still Suffering

Richard Green of the USC Lusk Center for Real Estate recently sat down with KTLA and provided insight into why California is having such a hard time climbing out of the mortgage mess.


View the entire interview here.

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U.S. homeownership rate at 15-year low

By Tiffany Hsu and Alejandro Lazo, Los Angeles Times

May 1, 2012

High foreclosure rates and a strong rental market pushed the homeownership rate in the U.S. to a 15-year low, even as projections for the housing market grew brighter.

The 65.4% rate in the first quarter is down from the 66% rate in the fourth quarter and 66.4% in the first quarter of last year, according to the Census Bureau. Before the housing bubble burst, homeownership reached a high of 69.2% in 2004.

The current rate is low compared with the last decade partly because earlier homeownership rates were inflated by people who hadn't made down payments and were really "renters with an option to buy," said Richard K. Green, director of USC's Lusk Center for Real Estate.

In the 1970s, 1980s and 1990s, the homeownership rate stayed roughly in the mid-60% range, Green said.

"We were getting numbers up toward 70% that just didn't make any sense," he said. "If the number goes below 64%, it'll be something to be alarmed about. But above that — we're just going back to where we should be."

View the full article here.

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THO Wins Three 2012 Hermes Awards

The Hoyt Organization was awarded three Hermes Creative Awards for 2012. View the full list of winners on the official website.


Hermes Creative Awards, Gold Winner
Pro Bono
Los Angeles Headquarters Association 

Hermes Creative Awards, Gold Winner
Television Placement
Westside Estate Agency

Hermes Creative Awards, Honorable Mention
Audio/Podcast
Gumbiner Savett

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Shopping Centers Panel Talks Growth

RETAIL: Shopping centers panel talks growth

BY TIFFANY RAY

Every two hours, a new 7-Eleven is born. That’s the rate at which the convenience stores are opening in new locations worldwide, according to Don Tucker, a real estate manager for the company.

Tucker was among a panel of retail and real estate experts assembled earlier this week for the International Council of Shopping Centers Inland Empire Breakfast Program.

The Ontario event also featured panelists from Rite Aid, Big Lots, Smart & Final and Supervalu, the Minnesota-based company that owns Albertsons and other grocery store chains. The discussion was moderated by Bill Worsley, vice president of Lewis Retail Centers.

View the entire article here.

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