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In 2007, the foreclosure rate nearly doubled, home prices sank, and the ownership rate had worst fall ever

By Mary Umberger | Tribune reporter
January 30, 2008

Another batch of dismal housing data hit the economy Tuesday, including worsening foreclosure rates at a time when recession fears are growing.

"We're still in the middle of all this," said Bob Walters, chief economist for Quicken Home Loans in Livonia, Mich. "I would expect the data to get worse before it gets better."