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Remember that one-bedroom pre-WWII house with 500 square feet of floor space on a small lot in Compton, CA that sold for $340,000 in 2007? It`s now on the market for $69,900, a price that somebody who doesn`t have enough money to move straight outta Compton might conceivably be able to afford.
Fortunately, the Obama Administration has promised to announce on Wednesday a comprehensive program to prevent housing prices from falling to affordable levels like this. Bubble Forever!