Housing

Here’s Why WSJ New Home Sales Headline Is Technically Correct But Still Misleading- It’s Still A Depression

New Home Sales By Region- Click to enlarge

The Wall Street Journal is Rupert Murdoch’s PR organ for his Move Inc. subsidiary, which provides marketing services Realtors. The Journal put out a PR release yesterday that,” U.S. New-Home Sales Rise to 7-Year High.” While technically correct, it is nevertheless misleading, tainted by the paper’s tilt toward bullish pronouncements on housing, thanks to Move Inc.’s main client being the…

Wall Street Journal Prints Housing Whoppers As The Housing Industry PR Firm It Actually Is

NARsales

Rupert Murdoch’s News Corp. owns the Wall Street Journal and the housing marketing service Move Inc. Move Inc.’s main client is the National Association of Realtors. In sisterhood with Move, the newspaper is prone to printing outright, bald-faced lies about the state of the housing market in the US, whenever it thinks it can get away with it.…

There’s No Inflation? Rents Rise 4.3% Year to Year But They Don’t Count

Owners Equivalent Rent vs. Market Rent- Click to enlarge

Median market rent for US rental housing units rose 4.3% year over year in the first quarter of 2015, according to data released today by the US Census Bureau. All of the gain came in the latest quarter, as rents were nearly flat for the previous three quarters. The first quarter increase compares with an…

Sing LA LA LA and Pretend Housing Doesn’t Count – That’s How Conomists Ignore Inflation

Home Sale Prices and Volume- Click to enlarge

In the hall of mirrors where conomists live, there’s no housing inflation. When the prices of consumption goods rise it’s “inflation.” But when housing prices rise, it’s not inflation, it’s “appreciation.” It’s like stock prices. There’s literally no stock price inflation. There’s “multiple expansion,” or “appreciation,” but there’s no “inflation.” That’s how establishment conomists can claim there’s no…

Here’s Why We Appreciate Housing Sales and The Fraud MUST Go On

Existing Home Closed Sales and Contracts- Click to enlarge

“Sales of previously owned homes rose in February, a sign that the housing market is healing…” That’s how the Wall Street Urinal reported today as it pointed to a 1.2% increase in the seasonally adjusted (SA)  nonsense National Association of Realtors (NAR) existing home sales (EHS) number. The reported figure is an  annualized number, multiplying the monthly…

Chart of the Day – Why Mainstream Financial Media Has Trouble Interpreting Abstract Impressionism

Existing Home Sales- Click to enlarge

If the mainstream media would just stop the silly nonsense of using seasonally adjusted (SA) abstract impressionistic data and then trying to explain it away, reality would be obvious. The headlines today said that existing home sales were down and then the Wall Street Jourbull tried to explain that away as a seasonal adjustment problem. Correctomundo!…