And of course- they were inflating the number....gee I wonder who taught them that trick?
I would call this unfucking believable- except that it's not. We see similar fraudulent figures week after week from the Federal Government and the BLS. How do we know unemployment figures are fraudulent? Simple.
People with jobs pay taxes. People without jobs don't. The treasury has a two trillion dollar deficit this year which initially was supposed to only be a 1.2 trillion shortfall. That missing 800 billion? Well that's what happens when you start believing your own bullshit.
How do we know the CPI is fraudulent and understated? Because we are the ones buying inflated goods.
Anyway- here's the whole fraudulent tale from the National Association of Realtors. I only have two questions. Why did it take them so long and why disclose this now? http://money.cnn.com/2011/12/13/real_estate/home_sales_revision/index.htm?iid=Lead
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I have been a real estate broker since 1990. The national and state realtor groups are basically public relations groups and lobbyists.
The hard numbers are inside the multiple listing service. Hard numbers of real homes that closed escrow do not lie.
FYI there has been some improvement in my area. The six counties of Southern California had a nealy 5% increase in closed escrows last month over the same period last year.
Some good news at last!
Thanks Gary. It generally takes industry insiders like you to direct the rest of us to the unmanipulated data.
I consider real tax receipts to be far more indicative of actual employment than the ridiculous figures manufactured by the BLS.
Thanks for stopping by!
Of late, Obama has been bragging about how much he has "saved" the economy.
I hope that this news, which IS being covered in the mainstream media, will dissuade some of Obama supporters from voting for him.
After all, to a great extent, it is the housing market that drives our economy.
AOW...
I don't see any way that Obama wins re-election. We'd have to be a country of masochists to do this again...his BS will not pass muster again.
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