Grace Chen and her husband, Antonis Orphanou, stand outside their home in Mountain View, Calif. Courtesy Grace Chen hide caption

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The Seattle/Tacoma/Bellevue metro area registered the sharpest annual increase in foreclosure activity: 71 percent. One in every 129 households received a foreclosure filing. Elaine Thompson/AP hide caption

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A crowd of New York-bound train passengers stands on the platform at the Trenton, N.J., train station as a full Amtrak train prepares to depart. Mel Evans/AP hide caption

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A house under foreclosure that will soon be auctioned in Las Vegas. The Obama administration's foreclosure prevention efforts were blasted this week in a report from a federal auditor. Mark Ralston/AFP/Getty Images hide caption

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Political economist Mark Blyth defines austerity as "the common sense on how to pay for the massive increase in public debt caused by the financial crisis -- mostly through the slashing of government services." WatsonMedia presents Mark Blyth on Austerity/ hide caption

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Freddie Mac

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