Some good news! California home sales revive, but with intense pain – WSJ

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bank-foreclosureHomes are starting to sell again in California, but not without pain. Investors and first-time buyers are getting bargain-basement prices for foreclosed homes, but the sharp increase in sales catches many homeowners in a squeeze where they owe more than their homes are worth, Michael Corkery reports in The Wall Street Journal.

This account details some of the painful consequences for families that bought during the housing boom and have foreclosed and down-sized in the market collapse.

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