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HOUSING UPDATE….The latest news on the housing market:

Although prices continued to fall, existing-home sales climbed more than expected during September, marking the highest level of home sales activity in more than a year.

Home resales rose to a 5.18 million annual rate, a 5.5% increase from August’s unrevised 4.91 million annual pace, the National Association of Realtors said Friday.

….The home sales increase represents “a nice jump,” said NAR economist Lawrence Yun. “Hopefully, this trend can continue.”

OK, I admit it. I’m just trying to cheer you up. That “nice jump” appears to be about the only good news around today amidst an ocean of gloom. Here in California, the latest news is that home foreclosures, after jumping about a million percent over the last year, are now down. But only because of a new law that makes banks delay proceedings until 30 days after contacting the borrower. Woo hoo!

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AN IMPORTANT UPDATE

We’re falling behind our online fundraising goals and we can’t sustain coming up short on donations month after month. Perhaps you’ve heard? It is impossibly hard in the news business right now, with layoffs intensifying and fancy new startups and funding going kaput.

The crisis facing journalism and democracy isn’t going away anytime soon. And neither is Mother Jones, our readers, or our unique way of doing in-depth reporting that exists to bring about change.

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If you can part with even just a few bucks, please help us pick up the pace of donations. We simply can’t afford to keep falling behind on our fundraising targets month after month.

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