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New York Times

Mr. Bush had voiced objections to a $3.9 billion provision that would give grants for local governments to purchase and refurbish foreclosed properties — a provision that the White House regards as a bailout.

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The housing crisis is entering a new and frightening stage. On June 24, Standard & Poor's announced that the S&P/Case-Shiller 20-City Home Price Index had fallen more than 15% in April from a year earlier, the biggest since 1940-42,

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... Tulips Pale in Comparison If you are one of the hundreds of thousands of Europeans who own speculative real estate, you tread the crumbling edge of a huge cliff."

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The New York Times

According to a study released by Harvard University, record foreclosures and limited access to credit will make it harder than usual for the U.S. housing market to rebound from this slump, the worst at least since World War Two.

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Christian Science Monitor

Rising mortgage rates, reflecting higher inflation, are starting to compound the US housing market's woes. Since March, mortgage rates have climbed as much as a full percentage point. For someone borrowing, say, $400,000, that could tack an extra

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Revelations that Dodd and Sen. Kent Conrad, D-N.D., the Budget Committee chairman, got cut-rate mortgages through a VIP program for friends of Countrywide CEO Angelo Mozilo - Democrats' message... massive foreclosure rescue package

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McMahon is nearly $644,000 behind in payments on a $4.8 million mortgage loan he got in 2005.

News Link • Global Reported By Trouser Chili
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LA Times

More: "Michael Crews Development is offering new, 2000-square foot cityscape row-homes worth $400,000 in Escondido for free -- if you buy one Royal View Estate home in San Pasqual Valley starting at $1.6 million.