Political profiteering

President George W. Bush said on Tuesday he is "concerned" about high housing prices, and pledged that the U.S. government will keep a close watch out for profiteering.

"I'm concerned about higher home prices," Bush said at a Rose Garden news conference to name new staff appointments.

"The government has the responsibility to make sure that we watch very carefully and investigate possible price-gouging, and we will do just that," Bush said in unprompted remarks about high home prices.