DID NEW HOME SALES RISE OR FALL?

Another example of what lying motherfuckers we have in government and the corporate mainstream media. The fucking headline on Marketwatch says that new home sales rose in October and the moronic faux journalist writes a story about the ongoing housing recovery. What a load of bullshit.

Last month the government reported new home sales of 467,000 and this month they reported new home sales of 458,000. For the math challenged, like CNBC economists, bimbos and hacks, that is a 2% DROP.

But, of course the government has to revise their fake number last month to a closer to real number of 455,000 today. Presto!!! New home sales rose this month. Of course, that will be until next month’s announcement where they revise this number lower. Do you get it?

Do you think this is an aberration? Don’t you think the government would underestimate as much as they overestimate on a monthly basis? Checkout the reported figures versus the real figures for the last six months. Do you see a pattern? The government spins every data point in a positive manner and hopes you don’t realize they are lying when they revise the number months later.

As far as the strong housing recovery storyline goes, checkout this chart and show me the housing recovery. After a five year housing recovery, new home sales are where they were at the bottom of our last six recessions. They are 50% below the 50 year average. They are 70% below the 2005 peak. Does the faux journalist on Marketwatch really expect us to believe this is a housing recovery? Really?

Government data is like the American Dream. You’d have to be asleep to believe it.

8
Leave a Reply

avatar
  Subscribe  
Notify of
Realestatepup
Realestatepup

ok, so here’s the stats in my little neck of the woods…this is a tri-town area that shares a chamber of commerce and the towns are fairly similar in terms of demographics, population, and housing types. For NEW homes, that means homes built in 2013 and up…
2 months ago, 27 new homes for sale, 2 sold
3 months ago, 27 for sale, 3 sold
4 months ago, 27 for sale, 4 sold
6 months ago, 27 for sale, 6 sold.
This means that all the new homes that sold were under agreement for a long time, i.e. they were probably “to be built” or had just broken ground and were “pre sold” because the current inventory hasn’t changed. A more important number, and one the media NEVER talks about is absorption rate. This shows how many months of inventory we currently have. For argument’s sake, we’ll use the 6 month number. Take the 6 houses sold in 6 months, that equals one house a month. Divide that into the 27 and Presto! We have TWENTY SEVEN MONTHS OF NEW HOUSE INVENTORY.

Dutchman
Dutchman

We all know the game – about all these government stats – the rise or fall of anything is directly related to the reference point. So if sales dropped 20% last month, but rise 5% this month – then the government can claim they are rising, even though it’s down 15% from the month before.

Sensetti
Sensetti

Admin it’s been a long time since you’ve been in school and the progressive liberals have made a lot of changes. They may not cipher like you were taught in school. You struggle with their numbers something fierce, may be you need a refresher course,

Sensetti
Sensetti

New Liberal Maff

2+2= x

X= Whatever number you need for your story line.

Bostonbob

REP,
In our neck of the woods we are just about sold out of our 1 to 3 million dollar homes on the golf course in Hingham. The project in Belmont where Romney lived has sold out of its 1 million plus dollar condos, but sales have been slow in our single family in the $500,000 to $700,000 on the south shore. Interesting one of our self proclaimed very liberal real estate agents was lamenting how difficult it is for young adults to buy their first home, our kids are about the same age, late teen to young twenties. As I listed the litany of government interventions that have literally turned this market on its head, between student debt, over inflated assets, government regulatory costs not only in construction, but permitting and running the company (See Obamacare) she seemed baffled that there was not some way that the government could fix this. She was sure that Ben Bernanke had saved the world by bailing out the banks, I explained how none of this helped the average working person only the bankers. She lives in a bubble in Hingham, but that will not last forever.What more could I say.
Bob.
Bob.

Dutchman
Dutchman

Take unemployment stats: Every time someone drops out of the workforce – either because their unemployment has run out ( government no longer calls them unemployed – why?) or because they get discouraged and give up looking.

Using their logic – once everyone is unemployed, and give up looking for work, they will no longer be counted – thus we will have full employment employment!

legoepropertymaintenance

Nice blog ! we also work in same field for more information visit our website. http://bit.ly/1tslS7C

Discover more from The Burning Platform

Subscribe now to keep reading and get access to the full archive.

Continue reading