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More Foreclosures Drag On Home Prices
Morning Business Memo
Home prices have been bogged down by a series of problems, from restrictive lending policies by banks to the weak housing market. But foreclosures are the biggest drag in many parts of the country. The real estate marketing firm RealtyTrac says number of homes in foreclosure rose during the first three months of this year in more than half of the largest metropolitan areas.
Source: ABC News (blog)