GlobeSt.com: On many levels--economic, political,social--these are not fast times in the affordable housing sector.What is the tone in Washington, DC, particularly with a newadministration in place?

Reid: It's not very good right now, but that'slargely because of the continued squeeze on the domestic budget. Interms of the Bush administration, there seems to be no change fromthe Clinton years, although the White House now is less warm andfuzzy to affordable housing. This could be simply that theircommitment has not been made evident yet. The new $30-billion HUDbudget is really a standstill budget, which means that while theyadvertise that they've increased the budget by a billion or abillion and half dollars, it's really a little less because ofprior years' obligations. If we adjusted the HUD budget forinflation since 1980, it should be in excess of $80 billionnow.Also, while there was an increase in low-income-housing taxcredits, it is still inadequate; it comes down to $3 billion peryear, which sounds like a lot of money, but not when it's comparedto need.

GlobeSt.com: So the crisis is worsening not only froma Fed standpoint but from the business and social standpoints aswell.