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This Week: Mortgages
This Week
August 26, 2005

This week on NOW:

A National Association of Realtors report this week indicates that the nationís 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.ís strategy. Jefferies, who served as a First Sergeant with the Armyís 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.

In Depth


Housing Boom or Bubble?

The New Mortgages

The Consumer Federation on Mortgages

Interview with Economist Chris Thornberg

Perry Jefferies
Iraq Veteran Perry Jefferies

Focus on Iraq

Resources for Veterans


Talk back on the message boards.


Learn more about the issues discussed on NOW.

Read the complete transcript.

Streaming Video

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On the Bubble (16:56)

Iraq War Veteran Perry Jefferies (6:17)

Listen to the mp3


On the Bubble
Producer: William Brangham
Editor: Judith Wolff

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