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High prices linger as housing crisis tests Congress
In Torrance California a real estate appraiser struggles to buy as prices fall 23 percent yet remain far above income. Lawmakers weigh FHA loan guarantees, tax credits, and aid for foreclosures amid demand for market correction. Analysts warn prices may need to fall further to align with incomes across major metros.
MENTIONED IN THIS ARTICLE
Los Angeles
Doug Guife
Torrance
Calif
Congress
Rachel Drew
Harvard University
Joint Center For Housing Studies
Gylfe
Sam Chandan
Reis Inc
House
Senate
George Bush
Federal Housing Administration
Fannie Mae
Freddie Mac
Ing
National Association of Realtors
California
Barbara Lipman
Center For Housing Policy
Washington D.C
Moody’s Economy.com
San Francisco
Miami
Stamford
Conn
Courtney Lind
Linds
Lind
Linds and Gylfe
Long Beach
South Torrance