Posted on 07/31/2009 12:55:10 PM PDT by sdw2009
Back by popular demand... Extreme Value editor Dan Ferris parses the world's financial headlines...
(Excerpt) Read more at thedailycrux.com ...
Comment: Don't fall for it. The housing market is in horrible shape and getting worse all the time. New home sales in June, at the estimated annualized rate of 384,000 homes, were 11% above the estimated annualized May rate of 346,000. But if you look at year-over-year numbers, you'll see the headline should read: "New Home Sales Down 21.3%.""
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