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LOS ANGELES-“There is a maturing property crisis heading our way in California.” So said Kelly S. Boyer, director of the Los Angeles Multifamily Hub for the U.S. Department of Housing and Urban Development, at the recent 2012 Ballard SpahrCSG Western Housing Conference here. There are more than 400 affordable housing projects in Southern California with mortgages that will mature before 2015, she explained. “Southern California has the largest HUD-financed maturing portfolio in the country.”

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