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Spot The Mindblowing Housing Permits Outlier
The Census Bureau is no stranger when it comes to reporting absolute gibberish "data": recall one month ago the bureau reported the biggest housing starts print in the Northeast since June of 2008 on what many tried to "justify" as weather-deferred construction, but which will soon be revised far lower.
As it turns out, that was nothing compared to the even more outrageous print that the good staffers at HUD reported in the latest, May, housing data. And while it was once again all about the Northeast, this time it wasn't starts, it was permits.
Spot the outlier in housing permits among the four US census regions. Hint: at an annual change of 165.8%, it has never been higher.
Here is the same ridiculous "data" only instead of Y/Y% change, we show actual permits in SAAR terms:
What is most amusing is that Ron Griess of the Chart Store who brought this paranormal data point to our attention, called the Census bureau and HUD employees assured him the "data was correct."
If that "data" is correct one would hate to see wrong data.
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New normal
We adjusted some folks.
Wall street bulge bracket "multi-family" condos for the super rich popping up all over.
ISneezed
John Crudele at the NY Post has been on to the Census Bureau numbers fraud for a long time.
http://nypost.com/2014/04/21/fraud-runs-rampant-in-census-bureau/
Donald Trump bought 200,000 permits in the Northeast to celebrate the launching of his presidential campaign?
What, no lumber charts?
I'm in the construction industry and monitor costs and economics.
I call BULLSHIT.
That is all.
Where else we going to put all the new immigrants? Texas and Arizona would be selfish to think THEY would get to keep them all.
l will stamp and delivery each one personally. Where you live?
Did you mean ILLEGAL immigrants?
The whites don't hate illegals, somebody has to deliver their stash from Michicoacan.
Without LEGAL immigrants, the U.S. wouldn't stand a chance in hell on international academic representation, health, fitness, etc.
It's only a maybe 5 or 6 standard deviation "outlier". Perfectly normal in today's fucked up orwellian world!!
The deceit, lies, corruption, etc has never been greater when you're talking about our federal government. It's that plan and openly simple.
That data is not correct. It is the one number they changed on their spreadsheet to avert total disaster...which is actually what the real world is experiencing. And if that number is real, the permits are some way of laundering money for Hillary's election campaign.
OT but hilarious: http://gawker.com/author-of-that-horrible-snowden-article-has-even-worse-1711406342
Algos don't do charts. I buy if you buy - mmmkay?
For a data point of exactly 1 (take it for what it's worth) - I live in Mass and I've been trying to get quotes to build a barn from the various relevant parties (excavators, foundation guys, builders) and they're all telling me next spring if I'm lucky. I've been told by a few of them that last year they had much less going on.
Build it yourself and write it all off as you go.
Start your own company
fahmahbob excavating LLC
I managed to find the seasonally adjusted chart the Fed is hiding from the public.
http://dinosaurdracula.com/wp-content/uploads/2012/09/scribble.jpg
Probably new section 8 housing permits to build subsidized housing in high end US neighborhoods.
If we can't get the racial differences to create warfare, we'll force them to live together. Yeah, that's the ticket - Barrack Obama.
Housing Starts?
I havnt seen a Mexican with a hammer in his hand unless he was pounding in 'foreclosure' signs or trying to rob somebody!
OK sure, some Mexicans wander around with hammers in their hand...but that just cause ICE pays by the pound...What goods a Mexican without a hammer? Unless they are playing soccer....who picks blueberries with a hammer?
In lieu of Lala Land's gentrification- they haven't cleaned up the crime at all but they're spending money to remove "burglar bars" from buildings so tenants can feel "safe" in order to push up prices.
http://www.laweekly.com/news/is-it-time-for-angelenos-to-break-free-of-t...
http://www.latimes.com/local/lanow/la-me-ln-lapd-data-20141216-story.html
This new "normal" is retarded.
From the article CombatSnoopy posted above "It's part of a larger citywide discussion about gentrification, crime, race and poverty. As L.A. becomes less dangerous — with the exception of a startling, across-the-board spike in crime last year — the bars on doors and windows, physical markers of a violent, gang-filled past, make some Angelenos queasy."
Unfricking real. Maybe if all law abiding people gave up their guns they would feel safer as well since there would be no reminder that there are bad guys out there. Except when one breaks in because the bars were removed because no one wanted to be reminded of crime and the gun is gone so you can't defend yourself. Just WOW!
Is every fucking liberal jackass insane? Christ, these people are seriously in denial about the world around them.
If the data is correct, some multifamily developer in the Northeast pulled permits for about 18,000 more units than the normal level of 5,000 in May. Perhaps the Federal government is building barracks for the confinement and reeducation of zero hedge readers? For all those readers who don't live here currently I might suggest buying a warm coat.
Curious that there was a similar spike in the 2008-2009 zone?
Must be for all the billionaire underground bunkers for the Wall St. crowd.
An article on Marketwatch pointed out that apartment developers in New York City were rushing to file permits before a critical tax break expired on June 15th. So the surge was a one-off occurrence that merely borrowed from the future, so watch for the MoM numbers to crash when July rolls around. Building permits, of course, dont necesssarily lead to starts anyway, especially when the permits were filed merely to preserve a tax break, just in case...
Maybe all those permits are being issued to homeowners in the Northeast to fix up their houses for sale so they can move to a low tax State. Packin my bags soon..... F CT.