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This week on NOW:
A National Association of Realtors report this week indicates that the nation’s long housing boom may have peaked. The rising real estate prices in America have been fueled in part by interest-only mortgages that are flooding the market with easy money for home buyers. Are these mortgages fabulous new financing tools that are helping more Americans buy homes, or are they a dangerous symptom of a housing bubble that is about to burst? NOW travels to California, where housing prices are continuing to explode, to investigate the risks and benefits of new financing vehicles that are enticing buyers into bigger houses than they ever thought they could afford.
This week, President Bush was on the road defending his administration's strategy in Iraq, as he has been under growing political pressure from critics over the war. David Brancaccio gets the insight of career soldier and Iraq war veteran Perry Jefferies about the U.S.’s strategy. Jefferies, who served as a First Sergeant with the Army’s 4th Infantry Division in Iraq, has been frustrated by the absence of priority on planning and basic soldier needs. He has spoken out about the lack of basic necessities, such as food, water and repair parts.
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