UPI baselessly asserted that Obama paid "substantially lower than market value" for Rezko property

SUMMARY: United Press International reported that Barack Obama "closed a real estate deal in 2005 with [indicted businessman Antoin] Rezko's wife while the families lived next to each other," and "paid Rezko's wife a price substantially lower than market value for an adjoining parcel." In fact, Obama purchased the land from Rezko in January 2006 (not 2005, as UPI reported), he paid substantially more than what an Obama spokesman reportedly said was the land's appraised value, and the Rezkos sold the remainder of the vacant lot before developing it and thus never "lived next to" Obama.

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