Despite evidence the economy is in the tank, the Progressive media proclaims the housing market is booming. One month of decent data, they calla spike! This leads the media to claim things are hunky dory again in real estate.
For the first time in seven months, home prices as recorded on the S&P/Case Shiller Home price Indices saw month-to month gains. The press release even referred to it as a “spike.” A 1.3 percent rise for the 10 and 20 city composites. When you seasonally adjust, the number dips to 0.7 percent, but it is still in the positive, and these days in housing, that apparently constitutes a spike.
“Some of this is probably because this is the spring selling season really hitting its stride,” notes S&P’s David Blitzer, “but certainly not all of it. My guess is half of what we’re seeing is real gains, not just seasonal shifts.”
So is this the end? Have home prices nowhere to go but up? The analysts aren’t so sure.
“We are coming back and this looks like a solid turn. It’s going to take a few more months to cement all the evidence in place, but it looks very good,” said Blitzer.
The Obama Boom is dead, long live the new Housing Boom! Does the media really think people can believe this crap?
Tags: Real Estate