Housing

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!…

Here’s a Picture of The Single Family Housing Recovery- Holy Cow!

Single Family Housing Recovery- Click to enlarge

Here’s a brief comment from leading analyst on the new home sales news. http://capitalstool.com/music/holycow.wav In case you’re wondering, the seasonally adjusted (SA) headline, larger than expected gain, was due to calendar factors and the bogus drill of annualizing monthly SA data, which merely magnifies the monthly error times 12. But hey, who thinks about that!…

Even With Growth, New Home Sales Still In A Depression

New Home Sales- Click to enlarge

There seems to be lots of confusion about today’s Commerce Department release on new home sales. The report showed that new home sales were at a seasonally adjusted annual rate of 467,000. Part of the confusions stems from the fact that that is a completely bogus, made up, fictitious number in the first place. Seasonal adjustments are…