Free Republic

Housing experts painted a grim picture of Los Angeles' real-estate market Tuesday as City Councilman Richard Alarcon called for city, state and federal funds to help bail out city homeowners who can't pay their mortgages. Warning that the region is embroiled in a foreclosure upheaval, Alarcon said he's also considering asking lawmakers to declare a state of emergency to direct state and federal money to counseling and loans for people about to lose their homes. "We're in a crisis. We don't need bureaucrats who are going to sit on their thumbs and not get things done. Who do we go...