Isn't that great! Home sales are up! Woo-hoo! Er, right? Nope. Read the actual article underneath this Reuters headline and you'll find this:
WASHINGTON (Reuters) - Sales of newly constructed single-family homes rose 3.3 percent in April to a 526,000 annual rate but they were down 42 percent from a year ago, which was the largest year-over-year drop in nearly 27 years, government data on Tuesday showed.
Down 42 percent from a year ago?! Largest drop in 27 years?! Who exactly do they think is dumb enough to fall for this? You and me, that's who.
Just to make sure there's credit where credit is due, the people responsible for this sterling example of modern journalism are reporter Joanne Morrison and editor Neil Stempleman. I tried to find email for these folks so anyone who wanted to could tell them how much we appreciate this kind of reporting, but of course the addresses aren't readily available. Wonder why.
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