Euro zone countries are key US trading partners, and the United States can't meet Obama's goal of doubling exports in five years —or reap the benefits in new jobs —if debt default contagion spreads throughout Europe.

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One of every five US home-owners owed more on their mortgage than their home was worth in the fourth quarter, a trend that poses a serious threat to the US housing market's recovery.

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The iconic letters spelling out Hollywood on the hills overlooking Tinseltown will keep their pride of place thanks to the housing bust. A 138-acre plot behind and to the west of the Hollywood sign were slated for development.

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