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Despite price declines, homeowners still sitting on gains; diverse economy makes a repeat of early '90s bust unlikely.

Publication: San Diego Business Journal
Publication Date: 29-JAN-07
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Land prices in the San Diego region won't be going down anytime soon, nor is housing expected to become more affordable.

But the region does have some assets to balance the deficits, according to Lynn Reaser, chief economist for Bank of America.

The Boston-based Reaser was keynote speaker at a luncheon Jan. 23 by the San Diego Regional Economic Development Corp., which helps business expand and relocate here.

With less than 4 percent unemployment and a diverse economy, and...

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