More bad news in the real estate industry

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There is more bad news this week in the real estate industry. Freddie Mac, one of the largest mortgage holders in the United States, has suffered a huge loss during the past quarter. Freddie Mac losses reached $821 million as more buyers defaulted on loans. Read more about it here.

Also, the state of Connecticut sued Countrywide Financial Corporation over its lending practices. The Attorney General for the state said that Countrywide misled borrowers into taking risky loans they couldn't afford. Read more about it here.

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