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Old 12-13-2011, 08:53 PM
 
5,113 posts, read 5,969,784 times
Reputation: 1748

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Lies ... Lies ... and more Lies

I like the part where it states "The benchmark revisions will be published next Wednesday and will not affect house prices."

Existing home sales to be revised down from 2007: NAR

"All the sales and inventory data that has been reported since January 2007 is being downwardly revised. Sales were weaker than people thought," NAR spokesman Walter Malony told Reuters.

"We're capturing some new home data that should have been filtered out and we also discovered that some properties were being listed in more than one list."

The benchmark revisions will be published next Wednesday and will not affect house prices.
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Old 12-13-2011, 09:01 PM
 
2,311 posts, read 3,504,707 times
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LOL, I saw this today and almost spit my jamba juice all over my screen laughing ..
More coverage : Existing Home Sales Debacle, As Larry 'Baghdad-Bob' Yun Confirms Overstatement | ZeroHedge

Here's what I understand about real-estate ... home cost as a multiple of income .. If the home price isn't a good multiple, you can kiss my behind as I am not buying .. No matter how many fools the data says that are.. and if I aint buying for long, I'm leaving to find a place where I can .. Lots of lies and manipulation are coming due in 2012 .. It's going to be a great year full of entertainment
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Old 12-14-2011, 06:07 AM
 
5,113 posts, read 5,969,784 times
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Buying income property in another state is starting to sound pretty attractive for retirement income. As the economy grows ... so does rent.
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Old 12-14-2011, 10:52 AM
 
12,823 posts, read 24,390,321 times
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As noted on other threads, California is a banana republic with diamonds in the rough (e.g. enclaves of "good living" buoyed by foreign wealth and niche start up businesses). If you are in one of those diamonds, your home value is at or better than what it was in 2007, if not, then you're pretty much up the creek.
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