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Some Good News and Some Bad News

Like an oncologist reporting news to a patient, some fresh housing data descended upon Atlanta today. If you're a bad-news-first type of person, here you go: the average sales price for a single family home in Atlanta dropped by 7%. But the good news is actually pretty good: total sales were up 26%. National Association of Realtors economist Lawrence Yun attributes the data to investors beginning to buy up foreclosures as an inflation hedge. Good for banks, bad for actual people trying to sell their homes for anywhere near what they paid. [Atlanta Business Chronicle]