Stinking Heap of BS: “Home prices rise for sixth month, a sign of recovery”

This is such an outstanding piece of bullshit, that I just had to post it. Who are these people?

open quote U.S. home prices rose for a sixth straight month in July in the latest sign of a sustainable housing market recovery, while a jump in consumer confidence this month offered a harbinger that Americans are ready to loosen their spending.

Six years after its collapse, economists believe the housing market has turned a corner.

Two separate reports on Tuesday showed that home prices rose in July, though the gains were not as strong as the previous month. That follows recent data that home resales and groundbreaking on new properties rose in August, while business sentiment among homebuilders hit a more than six-year high this month.close quote (Read more)

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The last QE3 is aimed explicitly at the housing sector. The government is printing huge amounts of money and throwing it at the housing sector, then these idiots have the temerity to suggest that rising home prices are a sign of recovery!

2 comments

  1. “On a non-adjusted basis, prices were up 1.6 percent?”

    What about adjusted price increase? Is this just an
    inflationary number we are looking at? Is this number
    being caused by the Fed’s actions?

    It should be asked if the numbers show a real
    underlying value increase?

    Do the numbers show underwater vauation?

    Ask the hard questions, not just gobbledygook.

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