Global Market Commentary From Russ Certo

Tyler Durden's picture

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Temporalist's picture
Home Sales Data Doubted

Realtor Group May Have Overstated Number of Existing Houses Sold Since 2007

"The housing crash may have been more severe than initial estimates have shown.

The National Association of Realtors, which produces a widely watched monthly estimate of sales of previously owned homes, is examining the possibility that it over-counted U.S. home sales dating back as far as 2007.

The group reported that there were 4.9 million sales of previously owned homes in 2010, down 5.7% from 5.2 million in 2009. But CoreLogic, a real-estate analytics firm based in Santa Ana, Calif., counted just 3.3 million homes sales last year, a drop of 10.8% from 3.7 million in 2009. CoreLogic says NAR could have overstated home sales by as much as 20%."

dick cheneys ghost's picture

china now blaming the West for formenting unrest.......things are heating up everywhere.

suteibu's picture

Dude...nice site and good catch.

onarga74's picture

There we go...spx futures now down almost 18 (new lows). QabluEy2.

Rusty Shorts's picture

video blocked in the good 'ole USA

suteibu's picture

If you use Firefox, get an extension called "Stealthy" to fix that problem.

Coldfire's picture

I can't decide whether this missive is incredibly profound or profoundly banal.

Instant Karma's picture

The Karma is bad. Sell stocks. Buy gold.

Oh regional Indian's picture

Funny that bankers think more about currency/rate stability/positioning rather than people/food/starvation etc.

All central bankers need to be deposed. 

The autocrats currently feeling inconvenient heat are just deflectors for banker crimes.


DeltaFunctionToronto's picture

"The stakes are high and any investment theses must aspire to handicap risk premium of potentially explosive re-arranging of deck chairs of all things political GLOBALLY."

The market is always tardy in coming to this realization.

max2205's picture

I guess Holder was right. We are a Nation of cowards. Esp Wisc Dems...very cowardly action to run and hide. They should be fired. How they acted is dereliction of duty AWOL. A private would be thrown in the brig.

Congress is beyond cowards and fails to lead and prosecute. Watergate was peak politics.

Al Gorerhythm's picture

Watergate was peak journalism.