Folks, you believe this number and you'll believe anything.
Yes, new home sales were up. It's called a fire sale. For $100,000 off, no closing costs, cash back, no payments for a year, a vacation and a new car, I'd have to consider picking one or two up too. No argument that units were up the 3% reported.
But prices up 3.2%? No way. Not in a trillion years. Why? BECAUSE THE GOD DAMN OUT OF CONTROL BUILDER INCENTIVES ARE NOT BEING RECORDED IN THE PURCHASE PRICE. The number is garbage. 100% worthless. Completely irrelevant. Meaningless. Bogus.
Note to the MSM who reports this bullcrap uncensored - DO YOUR DAMN JOB FOR A CHANGE. RESEARCH. DIG. REPORT. THINK.
Note to any readers of the MSM - just like Iraq, the true US deficit and the NORAD Santa reports, just know anything you read in the MSM should be seen as suspect.
WASHINGTON (Dow Jones) -- Sales of new homes rose 3.4% in November to a seasonally adjusted annual rate of 1.047 million, the Commerce Department reported Wednesday.
Sales are now down 15.3% in the past year, the government's data showed.
Sales in October were revised higher, to a sales pace of 1.013 million from 1.004 million that had been estimated previously.
The median sales price of a new home rose by 3.2%, reaching $251,700.
December 27, 2006
Posted by blogger at 12/27/2006