CHART OF THE DAY: New Foreclosures Dwarf New Home Sales

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New home sales are ticking up again, bringing some much-needed relief to the beleagured homebuilders. But watch out. Mark Hanson produced this chart, showing foreclosure starts against new home sales. As you can see, the new foreclosure starts jumped even more in july than new home sales, meaning trouble down the road for homebuilders — especially once that $8,000 first-time homebuilder tax credit runs out.

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