The Census Bureau is no stranger when it comes to reporting absolute gibberish "data": recall one month ago [4]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%, [5]it has never been higher.
[6]
Here is the same ridiculous "data" only instead of Y/Y% change, we show actual permits in SAAR terms:
[7]
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.
Source [8]
