Seeking A Cure For Low Home Prices

From the

The efforts to bolster credit markets should help housing, Treasury Secretary Henry Paulson said Thursday on Fox Business Network. “The key to this is the housing correction —- the price decline in housing,” Paulson said. Alba said lenders do think the government aid for financial markets will help housing —- eventually. At Wednesday’s debate, Democratic candidate Sen. Barack Obama said, “We’ve got to help homeowners.” Critics, from home builders to affordable-housing advocates, say Congress should do more. They say the options include forcing lenders to participate in the Hope program, allowing judges to rewrite mortgage terms for bankrupt homeowners, offering $20,000 tax credits for home buyers, and having the government refinance the mortgages of homeowners who owe more than their mortgages are worth.


The national average 30-year mortgage rate has risen …

> January 2008, 5.69 percent

> October 2008, 6.46 percent

… and so has unemployment …

> January 2008, 4.9 percent

> September 2008, 6.1 percent

… sapping the Consumer Confidence Index …

> January 2008, 87.3

> September 2008, 59.8

… leaving more houses on the market

> 2007 average, 8.9 months’ supply

> August 2008, 10.4 months

About Luke Ford

Raised a Seventh-Day Adventist at Avondale College in Australia, Luke Ford moved to California in 1977. He graduated from Placer High School in 1984, reported the news at KAHI/KHYL radio for three years, attended Sierra College and UCLA, was largely bedridden by Chronic Fatigue Syndrome for six years, and converted to Judaism in 1993. From 1997-2007, Luke made his living from blogging. Living by Beverly Hills (, he now teaches the Alexander Technique (moving the way the body likes to move). Lessons cost $100 each and last about 45 minutes. In 2011, Luke completed a three-year teaching course at the Alexander Training Institute of Los Angeles. His personal Alexander Technique website is Luke is the author of five books, including: » The Producers: Profiles in Frustration » Yesterday’s News Tomorrow: Inside American Jewish Journalism
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