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US Housing Market Was Artificially Inflated By 14% In 2007-2010 NAR Reports
US Housing Market Was Artificially Inflated By 14% In 2007-2010 NAR Reports
Submitted by Tyler Durden on 12/21/2011
Just the headlines for now:
EXISTING U.S. HOME SALES REVISED DOWN BY 14% FROM 2007-2010
EXISTING HOME SALES REVISED DOWN BY 15% IN 2010 TO 4.19 MLN
Thank you NAR for proving what everyone knew: that the US housing market is one big lie. And next: here come the historical GDP revisions.
The three charts that matter:
And the reasons for the "rebenchmarking"
see link...
full-
http://www.zerohedge.com/news/us-housing-market-was-artificially-inflated-14-2007-2010-nar-reports
