Upside-down homeowners thrown lifeline

Retail sales were up more than expected in January. Is it a sign that the great residential real estate slowdown is almost over?

Hardly. The housing industry continues to move along at a glacial pace, with a rising number of homes for sales, home loans in default, and a record-breaking pace of foreclosures.

The news is somewhat grim, with most of the private mortgage insurers announcing first-ever (but massive) losses, as they are required under their PMI policies to pay out millions of dollars.

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