Wednesday, August 15, 2007

The Titanic is not sinking...

Saw this piece here from the Trib. yesterday regarding an IL Association of Realtors report about housing sales. Here's its press release.

While home sales in Chicago dropped 19 percent from last year's second quarter, prices increased a modest 2.6 percent to a median average of $256,400, according to a Illinois Realtors report released today.

Total home sales statewide (which include single-family homes and condominiums) totaled 43,080, down 16.1 percent from 51,332 home sales in the second quarter of 2006.

A quote from IAR:

"Most counties reporting saw home sale prices stabilize or uptick year-over-year during this period, which is a good indicator that the housing market is healthy in Illinois," said Robert Zoretich, president of the Illinois Association of Realtors."

A 16.1% drop as GOOD NEWS, hmmm...a) how does this misinformation help consumers? b) why do reputable news organizations put out this fluff without at least an alternate/unbiased perspective?


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