Market Slowdown

More than $2 billion has been cut from redevelopment programs in California's budget, which many say will exacerbate the building slowdown in the state.

Three years after Irvine, California's "Great Park" was approved, development of the planned public spaces, homes and businesses has struggled to move forward. The housing crisis is being blamed for the lack of action.

Two notable large-scale projects in downtown L.A. have not broken ground on time, which many see as a sign of the end of downtown's real estate boom.