ABC Evening News for Monday, Dec 17, 1990
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(Studio: Peter Jennings) American Mortgage Bankers Association reported stating more homeowners are defaulting on their mortgage payments. Report introduced.
(Los Angeles: Bob Jamieson) The real estate bust after the boom in California featured; scenes shown of developers' auction to sell new homes. [Lot owner Alan NEWMAN - talks about the market drop.] Impact of economic downturn on construction industry and real estate agents cited. [Electrician John MARINO, The Douglas Group president Jon DOUGLAS - comment.] Decline in real estate market in New York City outlined. [Corcoran Group president Barbara CORCORAN - talks about homeowners' state of mind.] Comparative stability of Midwest market explained. [First National Bank of Chicago economist James ANNABLE - talks about the real estate cycle.]
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