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Even NYT is Drinking the Kool-aid

By Judi Desiderio, Monday, March 26, 2012
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I’m losing faith in the media to report on the facts when it comes to the housing market. As I’ve written in the past, it seems drama is outselling even sex! Negative spins are spinning out of control. This past weekend the NY Times article titled “Weak Sales in Housing; Prices Rise” was yet another example of such. Even the title speaks for itself. Which does the Times put first, the over 8% SURGE in the Median Home Sale Price for new homes in Feb … Or the 1.6’/. Drop in the number of new home sales for that same month-Feb- you don’t need to be chief economist to figure out that builders wisely pulled back during the Great Recession on pumping new inventory on to a slow sales market… Thus the slightness in NEW home sales– remember economics 101 the price of anything is determined by the scales supply + demand– if you dig deep in the article, you seel the real news, in addition to the over 8’/. Jump in prices, sales of previously owned homes rose more than 13’/. Since July and this winter has been the best for re-sales in 5 years! Builders have applied for the most permits to build SFR + appts since Oct 2008. so when the Commerce Department + other US Depts put out reports, reporters would be doing their readers a true service by not spinning the story to sell papers. Report on the facts please, and let’s all move forward economically. Thank you!