LOL I feel so wrong haaaaaaaaaaa My god reality ALLOWED to be printed???? What's this scam coming too.
Mar 26 10:00 AM Pending Home Sales Feb -0.5% 0.5% 1.9%
Another Housing Data Miss Makes It 13 of 15
Tyler Durden's picture
Submitted by Tyler Durden on 03/26/2012 10:17 -0400
Reality
recovery
Pending Home Sales missed expectations by the largest amount since September of last year and printed negative (-0.5%) versus hope of +1.0%. It seems our self-fulfilling housing recovery is not so self-fulfilling or recovering...this makes 13 of the last 15 macro data prints in the US a miss. What is perhaps most surprising is the fact that this is from our old friends - the NAR - who seem comfortable 'fabricating' whatever number they need and in a wonderful ignorance of the reality of the situation (or uncomon confidence in extrapolating exceptional trends), Larry Yun (NAR Chief Economist) notes "The spring home buying season looks bright because of an elevated level of contract offers so far this year" which seems odd given the fall MoM and the clear warm-weather demand-pull that has occurred (but we assume he is spinning the better-than-expected YoY data that marked a pick up from the last abyss we saw in home sales). We also note that while YoY comps are the positive spin, the Jan print was almost the highest 'rise' seasonally for January of the last 10 years and this print (for Feb) is well below seasonal average (and near the worst of the last 5 years).
Actual data revisions down and the largest miss from expectations since September...
http://www.zerohedge.com/news/another-housing-data-miss-makes-it-13-15?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29
Of course the spin doctors ramped it up at 10a,. Wonder if the market will get real on this BREAKING UNEXPECTED NEWS ????? LMAOOOOOOOOOOOO
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