Efforts to ease California's foreclosure woes, among the worst in the nation, are running into roadblocks at the state Capitol.

Media giant and former talk-show host Oprah Winfrey placed her eight-room, 4,607-square-footco-op unit on the market on Tuesday for $2.8 million, half of what she paid for the unit in 2006.

More green shoots are appearing in the nation's long-dormant housing market.

Usually, when a property doesn't sell after a year, the owner might consider dropping the price.

Foreclosure activity in the United States fell last month to its lowest level since the start of the credit crisis in 2007, driven largely by drops in states such as California, where the process occurs outside of the courtroom.

Principal reduction, long a nonstarter with lenders, has suddenly become a potential reality for thousands of homeowners who owe far more than their houses are worth.

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