Statement by Senator Hillary Clinton on Today's News of Housing Slump in South Carolina

Senator Hillary Clinton released the following statement in response to the news of the worsening housing slump in South Carolina, specifically the news that the Columbia had a 2.4 percent dip last year in home sales.

"As today's news account makes clear, the national housing crisis is sending ripple effects through South Carolina. As foreclosures mount around the country, "For Sale" signs are staying up longer and house prices are weakening. Working families are hurting. The home is their single largest asset. The weakness in house prices has already wiped out an estimated $1.3 trillion in household wealth.

"Since last March, I have called for action to address the housing crisis, end deceptive lending practices, crack down on unscrupulous mortgage brokers, punish mortgage-related fraud, and expand affordable housing. I have also put forward a bold plan to end the foreclosure crisis: a 90-day moratorium on subprime foreclosures; a 5-year freeze in subprime mortgage rates; and a $30 billion fund to help states, cities, and community groups work with families to avoid foreclosures.

"As President, I will address our economic problems before they become crises. I will work hard every day to deliver the changes working families need"