{"id":194103,"date":"2008-10-24T17:22:00","date_gmt":"2008-10-24T22:22:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/24\/bad-financial-journalism\/"},"modified":"2008-10-24T17:22:00","modified_gmt":"2008-10-24T22:22:00","slug":"bad-financial-journalism","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/24\/bad-financial-journalism\/","title":{"rendered":"Bad Financial Journalism"},"content":{"rendered":"<p>So, here we see the artcle based on data from the <strong>National Association of Realtors<\/strong> (NAR), an organization whose statements should trigger very loud bullsh^% alert titled, &#8220;<a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601103&amp;sid=auh3iRzkjrUw&amp;refer=news\">U.S. Home Resales Rose in September to One-Year High<\/a>.&#8221;<\/p>\n<p>Noting that home sales grew 5.1% from in September, 2008 as compared to August 2008.<\/p>\n<p>The housing crash is over&#8230;Let the rejoicing begin!!!!!<\/p>\n<p>Bad Journalism&#8230;the real story is that, &#8220;Foreclosure-related sales accounted for 35 percent to 40 percent of last month&#8217;s total,&#8221; and that&#8217;s the NAR&#8217;s, whose job is to <s>lie like a rug<\/s> present a rosy estimate.<\/p>\n<p>But Mr. Morggage of the Mortgage Lender Implode-O-Meter notes that <a href=\"http:\/\/mrmortgage.ml-implode.com\/2008\/10\/24\/no-spin-existing-home-sales-down-96-from-augnot-good\/\">actual existing home sales are down<\/a>, the month to month is <strong>created<\/strong> by seasonal sdjustments, and seasonal markets only should be applied to a stable market, not one in free fall.<\/p>\n<p>By his figuring, existing home sales fell by 9.6% between August and September.<\/p>\n<p>Me, I&#8217;d split the difference, which gives us (5.1%-9.6%)<\/sup>\/2<\/sub> or a drop of 2.05% for no reason at all.  I pulled the equation out of my overly ample ass.<\/p>\n<p>See table pron below.<\/p>\n<p><a href=\"http:\/\/img222.imageshack.us\/img222\/7095\/septhomesalesyw3.png\"><img decoding=\"async\" src=\"http:\/\/img222.imageshack.us\/img222\/7095\/septhomesalesyw3.png\" width=\"500\" \/><\/a><br \/>Click for full sized.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>So, here we see the artcle based on data from the National Association of Realtors (NAR), an organization whose statements should trigger very loud bullsh^% alert titled, &#8220;U.S. Home Resales Rose in September to One-Year High.&#8221; Noting that home sales grew 5.1% from in September, 2008 as compared to August 2008. The housing crash is &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[974,1088],"tags":[],"class_list":["post-194103","post","type-post","status-publish","format-standard","hentry","category-hack-journalism","category-real-estate"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194103"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=194103"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194103\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194103"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194103"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194103"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}