AP Report Avoids Noting Worst-Ever Month for Housing Units Completed, Worst Nov. Ever in Starts and Permits
Leave it to the Associated Press, with the assistance of the “magic” of seasonal adjustments, to make the November housing market appear as if it was a bit better than the two months that preceded it. It wasn't. Thursday, the wire service grabbed the single crumb that was available, namely the Census Bureau's report earlier that day that annualized, seasonally adjusted housing starts had increased by about 4% and turned it into a decidedly positive headline: “Home construction up after 2 months of declines.” AP Economics Writer Jeannine Aversa watered down the headline in her very first sentence, describing the “up” part of the headline as a “nudge.” That's nowhere near enough. The available evidence indicates that November may have been the worst month the homebuilding industry has had in 4-5 decades of related recordkeeping. read more
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AP Report Avoids Noting Worst-Ever Month for Housing Units Completed, Worst Nov. Ever in Starts and Permits
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on December 18, 2010. Filed under