Tuesday, February 22, 2011

Reproba Noticia

Not all data are created equal.

Of course, one should be as skeptical of industry-sourced data as one is of the "objectivity" of Oscar nominations. Both are sales tactics.

Still, hopefully whatever credibility remained with the below organization and its "data" has evaporated.

WASHINGTON — A housing trade association is examining the possibility
that the data it releases underestimated the collapse of the housing
industry, the Wall Street Journal reported on Monday.

The National Association of Realtors, which issues the monthly
existing home sales report that is closely watched by economists and
financial markets, may have over-counted home sales dating as far back
as 2007, the newspaper said in an article posted to its web site.

NAR's home sales count was at odds with calculations by CoreLogic, a
California real estate analysis firm, according to the report.
CoreLogic says NAR could have overstated home sales by as much as 20

An over-count of home sales may mean that there is a bigger backlog of
unsold homes and that it will take longer for the U.S. housing sector
to climb out of the deep hole it is already in, dragging on the
broader economic recovery.

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