Why you should ignore the general news media

The other day it was reported in the general news media that recent new house sales had experienced the largest increase in eight years. That must be a really big number because the last eight years were the real estate bubble where everybody with a pulse was buying houses. Sounds good, huh? Happy days are here again...

The facts are otherwise. This graph tells a grim and completely different story:



(Source: ShadowStats)