The Housing Recovery Has Been Canceled Due To Data Revisions

The Housing Recovery Has Been Canceled Due To Data Revisions (ZeroHedge, Oct 24, 2014):

It is now beyond stupid: the euphoric, consensus-beating data for every single month since May has been revised lower, by on average 6% and as much as 9%. Perhaps finally people will realize that there is only one number that matters in the Census bureau’s monthly new home sales report: the ±15.7 90% confidence interval. Well, people maybe, but not algos, who only care about one thing: whether the data beat or missed.

1 thought on “The Housing Recovery Has Been Canceled Due To Data Revisions

  1. I had to laugh when I saw your headline…..housing that isn’t affordable to 95% of the people has no market. Between rising interest rates (I know the FED says interest rates are low, but if you check mortgage rates, they have tripled since January) and prices at the same level as they were in 2006, most families don’t have the income to swing a decent house.

    This economy has been targeted and gutted by it’s leaders. We have been stripped of our wealth by the Vandals Within as Abe Lincoln called them. Now, the scumbags are back with more deals…….sub-prime auto loans are now the big thing.

    The housing market recovery has been canceled……touche.
    Same in China, they built entire cities that set empty for the same reason, their people cannot afford them. But, China evaluates their GDP by what they build, not earn, so building these cities made their GDP look amazing. Too amazing to be true. If something appears too good to be true, it probably is…….

    This depression is spreading like a disease. Right now, it is the Euro zone, and the US. Hyper inflation happened to Japan once they joined BRICS. BRICS, the basket of currencies, allows all members to trade with each other using their own currencies, leaving the dollar out. Only 33% of the world markets now use the dollar, primarily the Euro zone and some other small places.

    But, there is one drawback to using your own currencies, allowing an electronic currency to translate the value of your currency at the time of transaction. If your money isn’t worth as much as the other currency, you have to pay more. There are no tricks or falsehoods to fall back on…….and Japan is feeling that first hand. They have gone from deflation to hyper inflation since dumping the dollar over a year ago.

    The world economy is shifting rapidly from one based on a world reserve currency to one based on a basket of currencies. No games can be played, currencies from each nation are worth what they are worth. That will be tough for many, including the US. When the dollar collapses, we will know what a real depression truly is…….we will be screwed.

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