Mainstream Media Spins Real Estate Recovery ? Jim Sinclair's ...

By Greg Hunter?s USAWatchdog.com

Dear CIGAs,

Just about everywhere you turned yesterday, the mainstream media (MSM) was talking up the good news in the latest Case-Shiller Home Price Index report.? For example, the online version of USA Today had a headline that read ?Spring buying boosts home prices, market still sluggish.?? The first line of the story said, ?Prices rose 0.9% in July over June, marking the fourth-consecutive month of increases for the Standard & Poor?s Case-Shiller index released Tuesday.?? But, buried in the same story was this little piece of information, ?When adjusted for seasonal factors, home prices were essentially flat in July over June, S&P?s data show.? ?The housing market is still bottoming and has not turned around,? says David Blitzer, chairman of the index committee at S&P.? July home prices were down 4.1% year over year, according to S&P?s index of 20 leading cities. Minneapolis and Phoenix led the declines, with prices in those areas down about 9% year-over-year.?? (Click here for the complete USA Today article.)

What a spin job!? ?Prices were essentially flat,? and ?July home prices were down 4.1% year over year.?? Shouldn?t the headline have read something like ?Home Prices Decline year over year? Flat for July???? Why does the MSM try to spin good news out of a rotten situation?? Why do they think it is their duty to make a story look better than reality?? I was in the MSM for most of my career, and I know what its duty should be.? Give it to the viewer or reader straight.? There is not a single inaccuracy in the USA Today story, but the spin and omissions are stupefying.? Would you like an example of what I am talking about?? Sure you would.?

USA Today and many other news outlets such as CNBC and Fox were touting a little talking point from the report that said, ?. . . 17 of 20 cities in the Case-Shiller index showed unadjusted increases in July over June. . .?? This would make you think Wow!? We must have a turnaround in real estate going on.? Look at the actual chart from the Case-Shiller report, and focus on the last row of numbers on the right under the heading 1-Year Change (%):?

More?

Source: http://www.jsmineset.com/2011/09/28/mainstream-media-spins-real-estate-recovery/

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