First time visitor? Learn more.

The Housing Crash was Worse than Previously Thought

by Iron Fist ( 4 Comments › )
Filed under Headlines at December 14th, 2011 - 9:11 am

Check it out. The National Association of Realtors says they overcounted housing sales for the last five years:

Data on sales of previously owned U.S. homes from 2007 through October this year will be revised down next week because of double counting, indicating a much weaker housing market than previously thought.

The National Association of Realtors said a benchmarking exercise had revealed that some properties were listed more than once, and in some instances, new home sales were also captured.

“All the sales and inventory data that have been reported since January 2007 are being downwardly revised. Sales were weaker than people thought,” NAR spokesman Walter Malony told Reuters.

Lovely. Not only is the Obama Boom™ complete fiction, the crash was deeper than we admitted to.

Tags:

This entry was posted on Wednesday, December 14th, 2011 at 9:11 am and is filed under Headlines. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

Comments

Comments and respectful debate are both welcome and encouraged.

Comments are the sole opinion of the comment writer, just as each thread posted is the sole opinion or post idea of the administrator that posted it or of the readers that have written guest posts for the Blogmocracy.

Obscene, abusive, or annoying remarks may be deleted or moved to spam for admin review, but the fact that particular comments remain on the site in no way constitutes an endorsement of their content by any other commenter or the admins of this Blogmocracy.

We're not easily offended and don't want people to think they have to walk on eggshells around here (like at another place that shall remain nameless) but of course, there is a limit to everything.

Play nice!

Comments are closed.

Back to the Top

The Blogmocracy

website design was Built By All of Us