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News of Lower Home Prices Hits Too Close

July 04, 1993

I cannot understand why the Los Angeles Times runs elaborate articles about how much Los Angeles homes have plummeted in price. Does it harbor a continuing death wish for same? When you service a community that is looking to get on its feet, this is unconscionable!

Your reporters don't understand that such an article becomes a leading force, not a lagging indicator of real estate activity. People, who have been on the fence to buy, postpone decisions or if they are in the market, try to "steal" a home. Others, who depend on making their living through increased business activity, suffer--as does the Southland economy.

There is no question that the overheated home prices retraced many of their steps. You would have to live under a rock not to know that! However, your negative, unbalanced slant on the subject at the beginning of the traditional home-selling season, makes the continuation of the price slide a continuing, L.A. Times-fulfilling prophecy. This is an outrage!

MARY S. HIRSCHFELD

Beverly Hills

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