Conflicting Testimony on Housing: Home builders told...

Conflicting Testimony on Housing: Home builders told the Senate Banking Committee that a bill lowering the minimum down payment on government-backed home loans would ease the nation’s housing crisis. But a grass-roots group said it actually would make homes less affordable. Argued Gale Cincotta, chairman of National People’s Action: “The greatest impediment to homeownership is excessive monthly housing costs,” not the down payment.