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Press RoomIn the NewsLos Angeles Times: Low interest rates remain out of reach for many borrowersBy Alejandro Lazo. The vast majority of Americans with mortgages have rates higher than those rock-bottom ones already being offered by the big lenders... September 17, 2012 "The constraint that is keeping people out of the housing market is absence of equity," Richard Green, director of the USC Lusk Center for Real Estate, said in an email. "The drop in house prices means that many borrowers are underwater on their houses, and high unemployment has prevented potential first-time buyers from accumulating down payments." |
