Housing

If someone fools you once, shame on them. If they fool you with the same trick a second time, shame on you. If they "fool" you a third time — well, you must be in on it. That's my take on Bloomberg News's virtually euphoric reaction to yesterday's new-home sales release from the Census Bureau. The wire service's Shobhana Chandra celebrated how seasonally adjusted December sales were at "the…

This post follows up on Friday morning's entry (at BizzyBlog; at NewsBusters) showing that "Fewer Than 0.5% of Americans Live in Fully Recovered Counties." This is the kind of news which would be front and center with the nation's establishment press if such a report came out during a Republican or conservative presidential administration. With Team Obama in place, NACo's work has been virtually…

As President Barack Obama and Governor Jerry Brown continue to extol the wonders of the alleged economic recovery of nation and the Golden State, respectively, stories of significant growth in homelessness continue to rain on their parades. The latest example comes on the heels of reports on Seattle's burgeoning problem and the city's apparent willingness to allow officially sanctioned outdoor…

A week ago, Seattle Mayor Ed Murray, a Democrat, called homelessness in his city and the rest of King County a "full-blown crisis." Based on the numbers presented in coverage of the area's situation, we can certainly add the Emerald City to the list of areas where homelessness has been on the rise. Odds are that many readers here didn't know that, because the national press hardly ever pays…

James Taranto at The Wall Street Journal picked on the liberal "explainer" site Vox.com on Friday under the headline "Two Voxen In One!" In a story on "11 myths about homelessness," German Lopez seemed very contradictory. There was "Myth #4: Homelessness is typically related to mental illness." Lopez then immediately allowed that "Serious mental illnesses are more prevalent among the homeless."

Today at the Assocated Press, aka the Administration's Press, Martin Crustsinger covered the Census Bureau's report on new home construction in the usual way. Regardless of whether a given month shows improving or declining data, the wire service's overall message is almost invariably, "Things are really getting better. No, really." The sentence promoting that point of view in Crutsinger's…

Following President Obama’s speech on the economy on Thursday, the PBS NewsHour offered a 48-second news brief on the subject, in which co-anchor Gwen Ifill offered no opposing viewpoint to the President’s claim in his speech that “by every measure, the country is better off than when he took office.” The show then played a soundbite of the President, in which he lamented that “millions of…

The Census Bureau reported earlier today that seasonally adjusted housing starts and homebuilding permits fell by 14.4 percent and 5.6 percent, respectively, in August. The detail wasn't any better, as the two categories within each statistic — single-family and multiple-dwelling homes — also fell. You can tell that the news wasn't seen as good at the Associated Press, because Josh Boak's…

Someone must have slipped the wrong data to the Associated Press's Josh Boak yesterday before he composed his dispatch on the Census Bureau's latest report on new home sales. Boak got the current month's news right, though likely by accident (like almost everyone else in the business press, he relies on seasonally adjusted figures, and rarely goes to the unadjusted data), telling readers that…

Both ABC World News with Diane Sawyer and NBC Nightly News failed to mention a new, troubling report from the Census Bureau on Thursday night that sales of new homes decreased by 8.1% in June and that May’s originally reported double-digit increase was revised lower, from almost 19% to only 8%.  The CBS Evening News did cover this story, but it only was in the form of a 12-second news brief…

Late this afternoon, I went to the Top Business Headlines page at the Associated Press's national web site to get today's new home construction news. Because the AP didn't have a story there (saved here for future reference), I knew it had to be bad, especially because to ignore it, the wire service made room in its Top 10 stories for an item on Toyota experimenting with fuel cells and aircraft…

Bloomberg’s Eric Roston attempted to keep a straight face while promoting a draft report for the United Nations. It said U.S. emissions would need to be “cut to one-tenth of current levels, per person, in less than 40 years.” Short of societal regression, it is unclear how that could be done. “It’s perilous to say these things in the U.S., where a mere description of the scale of the climate…

There must have been a double delivery of Obama administration koolaid over at Bloomberg News this morning. The business wire service, which ordinarily is slightly less imbalanced in its business and economics reporting than the Associated Press, somehow interpreted a 6.5 percent seasonally adjusted decline in housing starts during May and a nearly identical percentage drop in building…

At the Associated Press today, economics writer Christopher Rugaber was a bit subdued, even when presented with nominally favorable news. He wrote that the March rise in the National Association of Realtors' pending home sales index of 3.4 percent, the first gain in nine months, was "a sign that the housing market might pick up after a sluggish start to the year." Rugaber's relative…