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alstry (35.03)

AP thinks Americans Idiots???

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March 24, 2008 – Comments (2)

Headline:

AP
Home Sales Rose in February

Monday March 24, 6:12 pm ET
By Martin Crutsinger, AP Economics Writer

Content:

It marked the first sales increase since last July, but even with the gain sales were still 23.8 percent below where they were a year ago.

http://biz.yahoo.com/ap/080324/economy.html

WTF

Home sales UP but they were still 23.8 percent below where they were a year ago?  Do they think we are just a bunch of sheep.  Bahhhhhhh!!!!!!!!!!!!!!!!!!!  How can sales be up but sales are really down?

How  about this headline:

Home Sales Down 23.8% y/y even after the biggest price drop in U.S. Housing History

Now wonder Mr. Crutsinger is an "Econmics" writer.  I have a fricken Econ degree, but that was to avoid really studying when I went to school.

2 Comments – Post Your Own

#1) On March 24, 2008 at 11:51 PM, alstry (35.03) wrote:

HONEST HEADLINE:

Monday, March 24, 2008

C.A.R. reports sales decrease 28.5 percent, median home price falls 26.2 percent in February

LOS ANGELES (March 24) – Home sales decreased 28.5 percent in February in California compared with the same period a year ago, while the median price of an existing home fell 26.2 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.

http://www.car.org/index.php?id=MzgzNzc=

Who woulda thunk the CAR would be the bench mark for integrity? 

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#2) On March 25, 2008 at 12:22 AM, mandrake66 (96.39) wrote:

I don't even understand what the claim is. Are they saying that this is the first month over month increase since last summer, ie that there was a 2.9% gain from January to February, though the Feb 2007 to Feb 2008 were down 28%? And is 2.9% even a statistically significant rise? Incredibly sloppy reporting.

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