The Housing Bubble is Popping

by David Kranzler
Investment Research Dynamics

The Seasonally Adjusted Annualized Rate (SAAR) economic numbers are now manipulated beyond the definitional meaning of the word “absurd.” This is especially true with the housing market and auto sales reports. – Investment Research Dynamics

Today the NAR released its “pending home sales” index. On a “seasonally adjusted annualized rate” basis, it showed 1.3% gain over June. June’s original report was revised lower from +.8% to -.2%. Mathematically, this downward revision enabled the National Association of Realtors to report a gain from June to July. Keep in mind this is on a “seasonally adjusted” and “annualized rate” basis.

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