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- Metro Detroit home prices down 17.2% from last year (Detroit Free Press)
Home prices across the country declined for the 20th consecutive month in August, according to figures out this morning. The Sun Belt markets are being hardest hit now with Phoenix and Las Vegas showing more than 30% declines. - Columbia posts $14.1M loss after reviewing appraisals (The Portland Business Journal)
Columbia Bancorp recorded a $14.1 million loss in the third quarter Friday after obtaining new appraisals on many of its residential construction and development loans. (CBBO)