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Some economic good news -- foreclosures are down. So what is the prognosis for the housing industry?

Some economic good news -- foreclosures are down. So what is the prognosis for the housing industry?
 
Stuart Gabriel, Ph.D., of the UCLA Anderson School of Management, is the diector of the Ziman Center for Real Estate at UCLA. He explains why where you live has an impact on the rate of recovery.

"We divide the state in terms of housing, not north and south, but really coast and interior," Gabriel said. "The interior markets were hit very hard, and the coasts fared much better."

Click the videos above for the complete Newsconference interview and an interview with Reps. Adam Schiff and David Dreier about Sacramento's money problems.

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