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Case-Shiller Price Index Reaches 2-Year High in August

U.S. home prices continued to increase in August as the Case Shiller 20-city Home Price Index rose 0.9 percent to its highest level since September 2010. The index is up 2.0 percent in the last year, showing improvement in 19 of the 20 cities surveyed. The 10-city also rose 0.9 percent in August, increasing 1.3 percent ahead of August 2011 and reaching its highest level since October 2010. The monthly gain in each index was slower than in July, when the 10-city index went up 1.5 percent and the 20-city index improved 1.6 percent.

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DataQuick: Prices See Monthly Increase in 40 out of 42 Counties

In September, home prices improved in nearly all of the largest counties throughout the United States as tracked by DataQuick. According to the company's new Property Intelligence Report (PIR), home prices grew in 40 out of 42 counties month-over-month, while prices improved in all 42 counties from the previous quarter and over the last year. DataQuick suggested the PIR is displaying evidence the recovery in housing is underway, but the PIR found an uneven recovery, with some areas facing risk factors.

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Report: $2 Trillion in Home Equity Lost to Nearby Foreclosures

Foreclosures have drained nearly $2 trillion in home equity from neighborhoods across the United States, according to a report from the Center for Responsible Lending. In a report titled "Collateral Damage: The Spillover Costs of Foreclosures," researchers Debbie Bocian, Wei Li, and Peter Smith conclude that, based on loans that entered foreclosure between 2007 and 2011, approximately $1.95 trillion in property value has been or will be lost by residents who live close to foreclosed properties.

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Hurricane Sandy Storm-Surge Risk Estimated at $88B

Underwater

Data from CoreLogic shows nearly 284,000 properties (representing almost $88 billion) located in the coastal Mid-Atlantic states may be at risk of storm-surge damage from Hurricane Sandy. Based on early projections of Sandy's path, eight major metro areas in the Mid-Atlantic region, including New York, Philadelphia, and Boston, are at risk.

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French Castle in Pyrenees Foothills Lists for $27.4M

Though a few recent U.S. real estate listings have promised royal living in oversized stateside mansions, a sprawling home in France has hit the market, giving potential buyers the opportunity to purchase an authentic castle that's truly worth of a fairytale.

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Pennsylvania Bank Falls, Bringing 2012 Total to 47

The FDIC closed another Pennsylvania institution Friday, bringing the state's year-to-date tally to two and the national tally to 47. The FDIC approved the payout of the insured deposits of NOVA Bank in Berwyn, Pennsylvania, after the Pennsylvania Department of Banking and Securities closed the institution.

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September Spending Growth Outpaces Income

Consumer spending rose $87.9 billion, 0.8 percent, in September twice the 0.4 percent growth in personal income, $48.1 billion, the Bureau of Economic Analysis reported Monday. While the increase in income matched economist expectations, the increase in spending was higher than forecast. It was the third straight month spending grew faster than income, confirming last Friday's report showing a solid growth in Gross Domestic Product from 1.3 percent in the second quarter to 2.0 percent in the third.

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