"Stuart Gabriel, director of the Ziman Center for Real Estate at UCLA, said consumer concerns about the broader economy have played a role in the housing slowdown. He said cheaper financing shouldn’t be viewed in a vacuum.
" 'The lower interest rates are there for a reason,' he said, referring to rates cuts the Federal Reserve has undertaken to bolster the economy.
"A UCLA Anderson Forecast, also released Wednesday, doesn’t predict a recession, but rather slowing GDP growth this year and next. Gabriel said that should be enough growth that the housing market doesn’t fall off a cliff, but also doesn’t enter a new boom period."
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