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More Cheery Economic News
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Can the housing market ever recover if so many people are stuck with negative equity? If you're underwater on your present mortgage, you can't sell without paying it off or getting the bank to accept a short sale (good luck with that). And if you're selling, try finding someone who can get a mortgage. Until values rise, this won't work itself out. And until it works itself out, values won't rise. Hmm... that doesn't seem like a good thing. (USA Today)
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