Thursday, September 13, 2007

Great Article on Motley Fool on Housing - Know Who Your Source is and if its NAR Proceed to IGNORE it

Posted by TraderMark at 6:58 PM TweetThis
Hiding the Ugly Truth About Housing - great statistics and shows you whenever you read 'news', check the source. The article compares the month by month 'estimates' by National Association of Realtors economists for overall and new home sales.... the source are economists... who are paid by... well the National Association of Realtors. I wonder if they have a vested interest? Hmmmm.....

This is a pet peeve of mine - when media types go chasing after headlines and flailing their arms all about - without ever citing the source of these numbers or digging into them to smell check.

First chart displays home sales projections for 2007 (vs 2006) month by month, as each month passes, the economists from NAR keep dropping the figures ever so slightly... and more... and more... and more....

The second chart displays new home sales - dare I say its a mirror image.

If it weren't so darn sad it would be pathetic. No wait, it's still pathetic. And sad. Sigh.

Posted by TraderMark at 6:58 PM

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