“We all have to run scared when the state’s in this kind of a situation because, as they proved last year, there’s almost nothing they won’t turn to to try and shore things up.”
— Glendale City Manager Jim Starbird, who feared state lawmakers would suggest taking funds from local governments to help close a $21-billion budget shortfall by mid-2011.
?
“In the near term it looks like the foreclosure climate has quelled a little bit.”
— Paul Habibi, professor of real estate finance at the UCLA Anderson School of Management, referring to a statewide drop in foreclosure filings during October. Habibi feared that high foreclosure rates could be on the way in the long term.