Which Way, L.A.?
The Wall Street Crisis Comes Back Home
Half of the southland's home sales last month were foreclosures, and tighter credit makes it harder to get loans. Plus, the latest on Prop 8 which would outlaw same-sex marriage, and there's still no state budget as the Governor battles with legislators of both parties.
By Warren Olney • • 30m ListenThe 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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