That sinking feeling...

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Good morning, Jeff Kent. As a friend likes to tell her 10-year-old son, ‘Cowboy up.’

News item from Reuters: ‘A record 26% of U.S. homeowners say the value of their homes has fallen during the past year, above the previous peak of 24% seen in 1992, a survey released Friday from Reuters/University of Michigan Surveys of Consumers showed. ‘Overall, the data indicate no let-up in the slump in home prices,’ said Richard Curtin, director of the consumer surveys, in a statement.

MORE: ‘Homeowners in the western United States, where some of the most dramatic home appreciation had occurred, have been especially hard hit by the real estate downturn. In the third quarter, 33% of homeowners surveyed in the West said their home value fell during the past year, up from 23% in the second quarter.’

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