{"id":196788,"date":"2008-03-25T16:38:00","date_gmt":"2008-03-25T21:38:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/03\/25\/home-sales-rise-not-really-we-are-all-still-doomed\/"},"modified":"2008-03-25T16:38:00","modified_gmt":"2008-03-25T21:38:00","slug":"home-sales-rise-not-really-we-are-all-still-doomed","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/03\/25\/home-sales-rise-not-really-we-are-all-still-doomed\/","title":{"rendered":"Home Sales Rise (Not Really, We Are All Still Doomed)"},"content":{"rendered":"<p>So, according to so-called business reporters, we have a <a href=\"http:\/\/money.cnn.com\/2008\/03\/24\/news\/economy\/existing_home_sales\/?postversion=2008032411\">slight sales rise in home sales<\/a> off of the biggest price drop ever, <a href=\"http:\/\/www.marketwatch.com\/news\/story\/economic-report-home-prices-plunge\/story.aspx?guid=%7BA58FEE92-9904-4411-9B52-C129279411DF%7D&amp;dist=hplatest\">10.7% year over year<\/a>.<\/p>\n<p>This might be a reasonable story, a tale of light at the end of the tunnel, except for the fact that <span style=\"font-weight: bold;\">by any reasonable metric<\/span>, as <a href=\"http:\/\/bigpicture.typepad.com\/comments\/2008\/03\/how-counter-pro.html\">Barry Ritholtz so ably notes<\/a>, housing sales <span style=\"font-weight: bold;\">fell<\/span>.  They are down <span style=\"font-weight: bold;\">28.3% from a year ago<\/span>, and the uptick is actually a <span style=\"font-weight: bold;\">seasonal difference from January to February<\/span>, which is conveniently ignored by the National Association of Realtors, who never tell the truth when a lie would serve.<\/p>\n<p>People do not buy homes in January.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>So, according to so-called business reporters, we have a slight sales rise in home sales off of the biggest price drop ever, 10.7% year over year. This might be a reasonable story, a tale of light at the end of the tunnel, except for the fact that by any reasonable metric, as Barry Ritholtz so &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-196788","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\/196788"}],"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=196788"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/196788\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=196788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=196788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=196788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}