Barry Ritholtz on housing numbers

[edhopper]

Very good read.

http://www.ritholtz.com/blog/2009/08/existing-home-sales-not-as-advertised/

"Only, not so much. A close look at the data reveals this to be a false premise. If you only read the NAR spin, its easy to fall into their web of happy talk. (We’ve said it so many times, it still bears repeating: The National Association of Realtors are a highly misleading news source. Look past what they say to the actual numbers if you seek economic truth).

In the past, I have gone so far as to imply the Realtors group are spinmeisters. This month, I will be more blunt: Their actual data has become untrustworthy, their spokesmen lie for a living, and their “news releases” is little more than misleading junk."

[daa]

1. I'll take Barry over Birini any day nt