February 23, 2009
...According to Delores Conway, Director of the Casden Real Estate Forecast at U.S.C's Lusk Center, "Our homes are a lot more expensive than the qualifying limit. Most people took out more than a $417,000 loan to purchase their house."
But the news isn't all bad, said Conway.
"I think they're going to inject about $200 billion dollars into Fannie Mae and Freddie Mac and that is to help in terms of the banks, in terms of approaching the banks for refinancing."...