Losses Stall Affordable-Housing Projects
| March 12, 2008 |  View for printing |
Affordable housing is the latest victim of the credit crunch that is reverberating through financial markets.
Projects are being canceled because some of the nation's largest financial companies, including Fannie Mae, Freddie Mac and Bank of America, have scaled back their participation in the federal government's largest and most prolific affordable housing tax-credit program, designed to boost construction of below-market-rent apartments.
By ALEX FRANGOS
Full Story: http://online.wsj.com/article/SB1205 ... marketplace
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