How Counter-Productive is Realtor Association Spin?
One of themes we’ve looked at over the years is the spin that some trade groups put out on top of their data releases. Some Trade Associations, like the ATA tonnage index, or the Home Builders Index, simply put out the straight dope — an unvarnished, unblinking look at their industries, so their members can better make informed business decisions with the available data. Other groups massage the data, spin the message, and try to present their info in the most positive light — regardless of the underlying data. They seem to believe that if only the public believes things are okay, it will become a self-fulfilling prophecy. The National Association of Realtors falls into this latter category. They have been calling the bottom in Housing, well, ever since the top 2 1/2 years ago; Their consistent claims of stabilization and price improvements later in the the year — as prices have continued to slide — have earned them the title of Worst. Forecasters. Ever. What is more damning, IMHO,
