I’ve been posting my complaints about the Case Shiller Index off and on since 2009. I didn’t look at this morning’s report because it is completely irrelevant. I don’t know what it said, nor do I care. Neither should you. Rather than rehash why this is such a worthless and misleading joke of a housing market indicator, here are links to a few of the articles I’ve written about it in the past, including the one in January of 2012 where I made a bottom call.
Case Chiller – False, Phony, and Fictitious, September 30, 2009
The Trouble With Case Shiller, September 28, 2010
Case Shiller’s Double Dip Has Come and Gone, April 26, 2011
The Trouble With Case Shiller, Again, January 31, 2012
Case Shiller – A Rant, May 29, 2012
I have sent these reports to mainstream media real estate reporters, who have acknowledged Case Shiller’s shortcomings, but they continue to report it as if it means something. This is typical of the mainstream media misinformation machine. Many times financial journalists know that what they are reporting is sometimes misleading or wrong, but they continue to do it because everyone else is doing it, not least because Wall Street mafia enterprises like Standard and Poor’s are behind it.
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