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(Newser) - “Owning a home lies at the heart of the American Dream,” George W. Bush once said, and US policy certainly seems to agree with him. Mortgage interest is tax deductible, and government-sponsored enterprises such as Fannie Mae provide cheap financing for home buyers. Why is that, asks Paul...

(Newser) - Taking into account current affordability, projected growth, and employment opportunities, BusinessWeek pick the best and worst prospects for bargains in the US housing market. The best, in alphabetical order:

1. Austin-Round Rock, Texas
2. Baton Rouge, La.
3. Birmingham-Hoover, Ala.

(Newser) - Investors are using federal tax breaks designed to stimulate rebuilding after Hurricane Katrina to buy luxury condos being built near the University of Alabama’s football stadium, 200 miles from the coast, the AP reports. The Tuscaloosa developments, where units go for up to $1 million, are flourishing while much...

(Newser) - Victims of the record flooding in England may have to live in mobile homes for months while their property is repaired. Tens of thousands of residences and businesses were badly damaged by floods over the past 2 months, which caused at least $6 billion in damage, Bloomberg reports. And meteorologists...