Calculated Risk flags a survey showing that about 63% of all home sales are distressed in one manner….Look at the graph, and it appears that ¼ of these are “trashouts”. (!)

This is confirmed by the fact that foreclosures hit a new record in July.

CR also notes, citing a report from Campbell Communications, (PDF, and also the source of the pie graph) that only 29% of purchases are being made by current home owners…..The rest is new home buyers and investors, so there is very little “move up” buying too.