As housing prices reach hit "crisis" levels, many cities are launching innovative initiatives to provide affordable housing.
"The problem of finding affordable homes extends across the country. In the greater Chicago area for instance, town mayors have banded together to encourage employers to help lower- and middle-income workers with down payments by offering matching grants.The City of St. Charles, Ill., an affluent suburb with about 30,000 people, has also decided to act as model for other employers. Starting in January, it will offer up to $5,000 to help with closing costs and the down payments for clerks, police officers, and firefighters who fall below the area's median income of $57,000."
Thanks to Laura Kranz
FULL STORY: Cities take on housing crunch, creatively
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