The Business section of the Commercial Appeal today has a heading “More homes for sale.” It reads: “Good news for home shoppers who want more houses to choose from: The inventory of homes on the Memphis market has risen six consecutive months to 7,370 in April. That’s 542 more homes for sale than in December, according to the Memphis Area Association of Realtors.”
Well isn’t that good news? From the breathless prose it would seem so. But isn’t more homes for sale on the market an indication that fewer homes are selling? That realtors can’t move existing homes because people don’t have the money to buy one?
What kind of twisted logic do you have to have to make this good news? Obviously they are pumping up the economy to show that Obama’s policies are really working, when your own eyes show they aren’t.
Look down a street at the number of homes for sale. I do and I see the same ones on the market month after month. We’re stagnant, not growing.
The newspaper continues, saying “Existing home sales fell 9.5 percent in April to 1,229.” Again, that hardly seems worth celebrating.
The same page has a story that says “Permits up, but local starts aren’t.” It continues “new home starts are down by 3 percent so far this year. Construction started on 195 homes through April compared to 201 houses for the same four months last year.”
That’s Obamanomics for you. Facts get shaped into pretzels for the public. We’re not buying. Literally.