About Those “Soaring” August New Home Sales——-Still In The Sub-Basement Of History
Yesterday’s new home sales report from the Census Bureau triggered an ebullient response. Big media used words like “surge; soar; rise sharply; above expectations” to describe it. The Wall Street Journal said, “Sales of new, single-family homes rose by 5.7% to a seasonally adjusted annual rate of 552,000.” The headline number they reported reflected the monthly seasonal adjustment and…
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