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Typical Fib from the Realtors...

Recs

18

March 24, 2008 – Comments (3)

"Existing Home Sales Rise In February"

Except they didn't. Month to month numbers don't matter. Year over year does. And that figure is another stunning drop:

remain 23.8 percent below the 6.60 million-unit level in February 2007.

Only the NAR could spin a 24% drop as an increase, and only the brain-addled press in the U.S.A. would parrot the headline with no criticism.

3 Comments – Post Your Own

#1) On March 24, 2008 at 11:18 AM, charlesblazer (99.02) wrote:

Thank you for shining light on the truth.

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#2) On March 24, 2008 at 12:08 PM, PhillyGator (< 20) wrote:

 Interesting. They even Footnote it at the bottom (#2) saying that month-to-month comparisons should not be considered meaningful, only year-over year.

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#3) On March 24, 2008 at 1:10 PM, TDRH (99.76) wrote:

The headline is all that it takes it seems.   Wonder is Stephen Kim will call the bottom again.

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