Monday, August 24, 2009

Thanks to the NAR ...

I'd like to thank the NAR for publishing the information I need to make my case against them as complete and utter lying sacks of elephant dung. Here is a table that I found which is based on NAR statistics.
Price RangeYear over Year Change
$0 - $100,000Up 38.8%
100,000 - $250,000Up 8.7%
$250,000 - $500,000Down 6.2%
$500,000 - $750,000Down 8.9%
$750,000 - $1,000,000Down 10.6%
$1,000,000 - $2,000,000Down 23.3%
$2,000,000 +Down 32.4%
I'll also wager that +/-5%, that a third of the sales in those lower ranges are also foreclosures, short sales or otherwise sales under duress.

Now, day in and day out, I am bombarded with NAR propaganda, as are most DC commuters who listen to the radio as we creep along in our steel coffins on the highways and byways of the city. I assume the same is for commuters just about everywhere.

The NAR continues to trumpet that now is a good time to buy, yet their statistics seem to indicate otherwise. I'll define "a good time to buy" as a place and point in time in which the value of the home you buy isn't going to continue to fall for the foreseeable future. I don't know where $250k buys you much of a home, but I can tell you for certain, that no place within the listening radius of the stations I listen to.

Lies, damn lies and statistics. So, there you have it, only the cheapest inventory in the lower valued markets are making gains, while the NAR continues to misuse statistics to the benifit of their constituants.

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