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A bear market swallows hobbits … and more

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  • 1. A Lord of the Rings-themed housing development is Oregon has fallen down a giant hobbit hole and become a casualty of the down real estate market [Gawker]
  • 2. Fifth Avenue ranked third in a new survey of the world’s 10 most expensive residential streets  [NYO]
  • 3. A state mortgage program has seen a big jump in interest [Crain’s]
  • 4. D.R. Horton, the biggest U.S. homebuilder, reported its fifth straight quarterly loss [Bloomberg]
  • 5. U.S. office buildings recorded their biggest quarterly drop in values since 1994, according to the Massachusetts Institute of Technology’s Center for Real Estate [Bloomberg]
  • 6. Another day, another new Chase bank branch [Brownstoner]
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