The Census Bureau reported today that fewer new homes were sold in the U.S. in May than were sold in April. Despite this fact, as seen below, the seasonally adjusted annual rate of new home sales went up by 2 percent:
The seasonally adjusted annual rate artificially increased primarily because of just one of the five years used in the seasonal calculations. In May 2010, new home sales took a dive because of the expiration of new homebuyer tax breaks. That makes the May 2013 drop look not so bad.
Therefore, May 2013 was “better” in seasonal context than April 2013. This is one more example demonstrating why relying solely on seasonally adjusted data is dangerous.
May’s 45,000 new homes sold is lower than every year since the bureau began keeping such records in 1963 except the four seen above, 1982 and 1980 (during that era’s recessions, with a 25 percent smaller population), and 1970, 1969, and 1968 (when the country’s population was one-third lower than it is today).
This housing “recovery” is tepid at best. The current new-home market is better than it has been in any of the past five years, but worse than every year on record preceding it, with only 1982 being a borderline call.
This news won’t be presented that way in the press.
the (Supreme) court ended a requirement that some or all areas in 15 states get advance approval from the Justice Department or a panel of federal judges for all changes to voting laws, procedures and even polling place locations.
Dissenting Justice Ruth Bader Ginsburg, a statist through and through who has a “Roach Motel” view of the relationship between the states and the federal government (once a state comes under the federal government’s power in any way, it can never get out), claimed that “the scourge of discrimination was not yet extirpated.” It never will be totally extirpated — anywhere — which means there are no conditions under which Ginsburg would be willing to let go.
Either all 50 states have to be under the same federal micromanagement the 15 states have seen, or none of them should be.
The court’s majority went with “none.” It’s the right call. Now every state is on an equal footing.
If Congress is concerned about discrimination (including reverse discrimination), it can pass laws which apply to all 50 states.
– Obama Speech in Berlin
– Chris Matthews
– Marco Rubio
– Illegal Immigrants
– Bush More Popular then Obama
– Al Gore
– Keystone Pipeline
– Miami Heat
– Kim Kardashian and Kanye West
“A new poll shows that George W. Bush is now more popular than President Obama. The poll was conducted by the NSA based on phone conversations of people who didn’t know they were being monitored.”
“Al Gore called the Keystone Pipeline an atrocity — which means Gore is just angry he couldn’t find a way to make a profit off it.” (Background: “Al Gore sells Current TV to Al-Jazeera, nets reported $100 million.” Al Jazeera is an Arab oil money-supported propaganda network pretending to be a legitimate news organization.)
The champion of the men’s 2013 Boston Marathon returned his winner’s medal to Mayor Thomas Menino on Sunday to honor the city and those killed and injured in the bombings near the finish line of one of the world’s top running events.
“Sport holds the power to unify and connect people all over the world,” Lelisa Desisa of Ethiopia told the crowd through a translator. “Sport should never be used as a battleground.” …
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"(ACORN) says it provide lots of services for poor people, but a recent NewsBusters post by Tom Blumer exposes the hollow facts behind the claims."