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Case Shiller Misses Expectations, Unadjusted Home Prices Lowest In A Decade

I thought we were in an “economic recovery” Mr. President??

From Zerohedge.com
The February Case Shiller number is out and represents the latest high frequency economic miss, with the 20 City Seasonally Adjusted number printing up 0.15% on expectations of 0.20%. The good news, of course, is that this is the first improvement in the Seasonally Adjusted Top 20 MSA Series since April 2011. The bad news is that this was all warm weather driven, and courtesy of seasonal adjustments: unadjusted the February data declined once again, this time by 0.8%, the 6th consecutive decline in a row, and the lowest number in a decade. Furthermore, the data would be uglier if it were not for prior period downward revisions in what seems to be a page right out of the BLS propaganda playbook. Read more here…

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