Wednesday, January 02, 2008

Top 10 Economic Myths

I'm no economist, for sure, but I did find this interesting. The Business & Media Institute has compiled their list of The Media’s Top 10 Economic Myths of 2007.

Here's a snippet on housing foreclosures:
The foreclosure figures most stories used came from RealtyTrac, a source that counts each filing in the foreclosure process. One house has to go through several steps in the process, so counting each one as a separate foreclosure is inaccurate. Rick Sharga, the organization’s president, said it is misleading to call the number total foreclosures – which is what the media kept doing.
I go into many "developing areas" as part of my job, and so far I haven't seen any indication that the house-builders are slowing down anywhere around here.

via The Liberty Papers

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