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Rising Home Prices Leave Greece's Troubled Borrowers in a Bind
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Consider a home valued at €200,000 a decade ago that might now fetch €350,000 or €400,000. Greece's surging property market has created an unusual problem for thousands of borrowers who fell behind on their loans during the country's long financial crisis: Their homes are worth considerably more, but their ability to repay debt often isn't. That widening gap between asset values and household income is making it harder to reach sustainable debt …
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