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Market Reports: Doom 'n Gloom Edition

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This morning the Journal's Developments blog made some grim predictions about what today's national housing data numbers would look like. Those numbers are out, and the Times says they exceed "even the grimmest forecasts." Double grim! Home sales fell of a cliff in July, down 25.5% from last year, according to the National Association of Realtors. One reason: The end of the homebuyers' tax credit. Also everyone was too busy seeing Toy Story 3. [WSJ; NYT]