Dualing headlines concerning housing economy

These reports are based on two different measures, new housing sales and existing housing sales, but tell me if there is a difference in the way the economic news is pitched.

First, from Investor’s Business Daily, with my emphasis added in bold.

Existing-Home Sales Jump As Tax Relief Helps Fuel Demand
By SCOTT STODDARD, INVESTOR’S BUSINESS DAILY
Posted 12/22/2009 07:38 PM ET

Sales of existing homes jumped to their highest level in almost three years in November, an industry group said Tuesday, the latest sign that the economy is accelerating heading into the new year.

Next from the Associated Press, with a hat tip to Ed Morrissey over at Hot Air and my emphasis in the abstract.

November new home sales sink 11 percent
By ALAN ZIBEL (AP) – 10 hours ago [Dec. 23 at about 3 p.m. ET]

WASHINGTON — Sales of new homes plunged unexpectedly last month to the lowest level since April, a sign the housing market recovery will be rocky and heavily dependent on the generosity of Uncle Sam.

Not goofy enough for you? How about an Associated Press story in the Daily Herald on existing-home sales figures. Note that the recovery will be rocky in Alan Zibel’s AP piece.

Local home sales soar, up for third straight month
Associated Press – 12/23/2009 12:15 AM

WASHINGTON – Extraordinary government efforts to stabilize the housing market are paying off. What happens when the help runs out is anyone’s guess.

3 replies
  1. Dimsdale
    Dimsdale says:

    Just like climate science, the spin defines the political corruption that exists in the press.  Just like in science (well, the science I was taught and practice anyway), the facts are the facts, and the chips fall where they may.  You can have all the hypotheses in the world, but the data is the data.   Anything else is crap (that is a scientific term!).

  2. donh
    donh says:

    Surging sales in existing homes can be a sign of economic FAILURE as mortgage defaults cause an increase in forced liquidations. The New housing sales number  shows the real state of the economy and employment conditions facing the construction industry. Construction Jobs are quality well paying  jobs that generally support a family.

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