Existing Home Sales Edge Up 0.4 Percent
screams the corrupt MSM headline.
Read a little further and you see this
The National Association of Realtors reported Monday that sales of existing single-family homes, condominiums and townhouses rose 0.4 percent in November from October, to a seasonally adjusted annual rate of 5 million units. Over the last 12 months, however, existing home sales have plunged 20 percent, underscoring the troubles in the housing sector.Now what is more substantial? A 0.4% increase month over month or a 20% decrease year over year? Month to month data is meaningless. It is comparing apples to oranges. It is like saying temperatures decreased 12% from October to November. Factually true, meaningless in forecasting temperature trends over the long term.
But why let logic get in the way of perpetuating the NOW IS A GREAT TIME TO BUY lie? That is the only conclusion I can draw for why the headline screams good news when in reality the bad news is only getting worse.