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Pricey Homes Are Defaulting More

The signs have been showing for a few months now that expensive homes are falling by the wayside too. The Chron reported yesterday that in Bay Area cities where the median home price is above $1 million, twice as many households got notices of default between January and September this year as the same period last year. Again, analysts aren't quite ringing alarm bells, but they wonder aloud whether it's not the start of another ugly trend. [SFGate]