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Home sales tumble as tax credit lift wanes

WASHINGTON (Reuters) – Sales of previously owned homes suffered a record drop last month as the boost from a popular tax credit waned, raising doubts the housing market recovery can be sustained without government support. Here is the original post: Home sales tumble as tax credit lift wanes

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In Foreclosureville, USA, so much change

STOCKTON, Calif. – (AP) Stockton hardly looks like the most miserable city in the country. But the statistics and stories over the last two years make a case that it is: Since the housing crisis began, this inland port city 80 miles east of San Francisco has had one of the worst for

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Home valuation code could soon undergo major revamp

A ‘dysfunctional system that’s holding back the housing recovery’ and has resulted in lowball property appraisals and busted home sale transactions, among other things, may be on its way out the door. Excerpt from: Home valuation code could soon undergo major revamp

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U.S. Stocks Drift on Mixed Economic Data

Stocks fluctuated in early trading as investors grappled with grimmer-than-expected data on consumer confidence, despite signs of hope in the housing market. See the original post: U.S. Stocks Drift on Mixed Economic Data

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MBA: Foreclosures, unemployment to peak next year

SAN DIEGO – (AP) Foreclosureswill peak by the end of next year and unemployment will climb above 10 percent as the housing market and U.S. economy grapple with the aftermath of the recession, the Mortgage Bankers Association’s chief economist said Tuesday. Jay Brinkmann’s forecast, released

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Obama aide defends stimulus package

WASHINGTON (Reuters) – President Barack Obama’s top economic adviser said on Monday the United States is on the path toward economic recovery, conditions in financial markets are steadier and there have been initial signs of stabilization in the housing market. Read more from the original source: Obama aide defends stimulus …

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Debate Over Homebuyer Tax Credit Heats Up

As part of its effort to prop up the housing market, the federal government is offering an $8,000 tax credit to first-time buyers. Nationwide, pending home sales have been on the rise for seven months in a row. But the offer is set to expire at the end of …

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AP analysis: Auto industry gains boost some areas

(AP)Signs of life in the auto industry and an easing of the housing crisis helped reduce unemployment and kept foreclosures flat in some of the nation’s hardest-hit areas in July, according to The Associated Press’ monthly analysis of economic stress in more than 3,100 U.S. counties. The latest re

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Rising unemployment accelerates foreclosure crisis

WASHINGTON – (AP) Relentlessly rising unemployment is triggering more home foreclosures, threatening the Obama administration’s efforts to end the housing crisis and diminishing hopes the economy will rebound with vigor. In past recessions, the housing industry helped get the econom

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Rising unemployment accelerates foreclosure crisis

WASHINGTON – (AP) Relentlessly rising unemployment is triggering more home foreclosures, threatening the Obama administration’s efforts to end the housing crisis and diminishing hopes the economy will rebound with vigor. In past recessions, the housing industry helped get the econom

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