The Bush Administration approved a new program called Project Lifeline, which will give homeowners facing foreclosure a little relief. According to U.S. Representative Maxine Water said last December that eight out of the top 20 cities for foreclosure rates in the country are in California.
Annenberg News Radio host Laura Weber spoke with USC Professor Raphael Bostic, director of the Real Estate Development program. She asked him how the national foreclosure crisis is affecting California.