There are now 20 brand new homes for sale in HPP.

[Punatang]

   

I stand corrected!  One out of 12 months was ultimately re-revised upward.  It was initially revised downward just like the other 11 months.  One month out of 12 in 2023 which is the subject of the post above.  Those who have studied statistics are aware of how improbable that dataset is regardless of motive or intent for deviant weighting.  

The way things are looking, a 50% haircut on housing, in real value, adjusted for inflation VS wages, may just be in the cards in the not too distant future.

Gen Z deserves a break.

ETA:  HJ, fair questions.  "The market" has a propensity to react to the initial monthly reports and not the subsequent revisions. One will note that today, the day of the massively disappointing revision of 818,000 vanishing jobs, the market closed with every index being up.  Combine that with the idea that sometimes bad news is good news and sometimes good news is bad news (think FED put) and you start to unravel why fake goes in every direction depending on the expediencies of the moment.  At this moment, today, what is expedient is a lowering of interest rates and a tossing of a midnight rambler under the bus.  In both cases, today's disappearance of 818,000 "jobs" that juiced the market back when it was needed, is right on time.  

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