Tuesday, December 13, 2011

SHOCK? Overcounting Home Sales

The Drudge headline says SHOCK: Realtors: We've Overcounted Home Sales for Five Years... I guess someone is shocked that the very people who stand to benefit from painting a rosy picture on housing have been providing inflated numbers? Count me shocked as well, like Captain Renault.

Supposedly the revised numbers won't affect home prices, but how do those guys know? They're in shock. This blog has consistently said that home prices still have a ways to fall. We still haven't changed our mind.

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