Briefly study the image above … (NOTE: I put in some annotations to help the people over at CNBC)Now read some of yesterday's widely hyped headlines suggesting that there was an "unexpected" rise in new home sales:
- US New-Home Sales Take Surprise Climb; Prices Fall – CNBC
- Stocks improve after home sales show surprise gain – The Associated Press
- Unexpected rise in new US home sales – The Financial Times
- New home sales show surprising turnaround – Houston Chronicle
- Unexpected rise in sales of new homes in US – Independent
- New home sales increase in U.S., surprising economists – The Salt Lake Tribune
- New home sales post unexpected increase in September - Newsday
Does the real estate industry pay for these headlines or are media outlets simply total imbeciles?
