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LA's on Sale

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Under a headline that implies 2011 may signal the end of the housing crash, the Wall Street Journal looks at whether it's time to start buying again. Are they using LA County prices in their analysis of Los Angeles. Unclear. But in Los Angeles, the "average price has since fallen to just over two years' income now. That's well below its pre-bubble average of 2.6 years. This means average Los Angeles homes are cheaper in 'real terms' than they were typically during the period 1989 through 2003." [WSJ]