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Here's a fun phrase: "while the news for Los Angeles is positive, it isn't spectacular." That's the word on the latest Case-Shiller housing pricing data: "Prices improved 1.3 pecent in July, but that has to be contrasted with a 1.7-percent uptick for June, a 2.2-percent gain for May, and an 1.5 pecent boost in April.Year-over-year, L.A. was basically flat with a 0.4-percent gain." [SCPR]