The Wall Street Crisis Comes Back Home
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The housing market is where the Wall Street crisis began, and it's not close to being over. Half the home sales last month in Southern California were due to foreclosures. Prices are 34% lower than last year, but tighter credit requirements make it much harder to get loans. Also, the latest poll on Proposition 8 which would outlaw same-sex marriage, and there's still no state budget as the Governor battles with legislators of both parties.
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Making News
Budget Veto Threat Looms as Finger Pointing Begins ()
Governor Schwarzenegger broke up a meeting with legislative leaders yesterday afternoon for a public appearance in Fresno. He went to what’s become the Republican heartland to rail against provisions of the state spending plan he’s threatened to veto. It’s now 80 days since the budget was due—and every day is an all-time record.
Guests:
- Anthony York: Capitol Weekly, @AnthonyYorkLAT
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Main Topic
Will Falling Housing Prices Kick-start the Real Estate Market? ()
Home prices in Southern California continue to fall. In August, the median price dropped $18,000 to $330,000 — 34% lower than one year ago.
Guests:
- Peter Hong: Business reporter for the Los Angeles Times
- Christopher Thornberg: Economist, Beacon Economics
Links:
Reporter's Notebook
Anti-Gay Marriage Measure Failing in New Poll ()
When the California Supreme Court ruled that gays and lesbians have the constitutional right to get married, opponents drafted a measure for this November's ballot. But, at the moment, Proposition 8 doesn't appeal to the voters.
Guests:
- Mark Di Camillo: Director, the Field Poll
Links:
Underwriters
Which Way L.A.? is made possible in part by the Ralph M. Parsons Foundation, the Nathan Cummings Foundation, and the John Randolph Haynes and Dora Haynes Foundation, which supports study and research into policy issues of the Los Angeles region.
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