Declines in the Housing Market Continue
The housing market continues to slide. Luxury homebuilder Toll Brothers has had the highest number of cancellations in its 21-year history. Accredited Home Lenders is laying off half of its staff, and the number of realtors is dropping for the first time in more than a decade. Marketplace's John Dimsdale speaks with Madeleine Brand on the latest, including a new refinancing proposal from the Bush Administration.
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