Anyone in the real estate industry can attest that the lowered mortage loan standards under Bill (Cigar) Clinton ruined the housing market and the economy, and was the main reason for the recession. Now Nar - the National Association of Realtors has announced that all the numbers for previously owned houses from the year 2007 through October of 2011 are wrong. The revised figures are due to the way NAR counted home sales and home inventory.
Their lack of proper accounting, I guess they was using the junk in - junk out method, was inadvertanly propping up the economic numbers. The Housing Market numbers are one of the key indicators of the economy. So in other words the economy was yesterday, and is today - worse than we thought.
...and you didn't think it could get any worse!
No comments:
Post a Comment
We enjoy your comments, and contributions! And thanks for your interest in The Political View!