C.A.R. REPORTS SALES UP 117.1 PERCENT; MEDIAN PRICE FELL 39.9 PERCENT

Home sales increased 117.1 percent in October in California compared with the same period a year ago, while the median price of an existing home fell 39.9 percent, C.A.R. reported yesterday.

"Statewide sales increased significantly in October to 552,750 homes on an annualized basis, the highest sales level since late 2005," said C.A.R. President James Liptak. "The record gain stemmed primarily from extremely large increases in regions with a high concentration of distressed sales.

"Most October sales likely opened escrow prior to the beginning of the ongoing freeze in the financial markets.We won't have a clear picture of the full impact of the fallout until November and December sales are reported," Liptak added.

"The year-to-year decline in the statewide median home price was smaller in October than the previous month for the first time in 11 months," said C.A.R Vice President and Chief Economist Leslie Appleton-Young. "However, there is still no conclusive indication that prices have begun to stabilize."

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A perfect example for the saying: "figures don't lie; people fig."

How can the sales up 117% and the price down 40% at the same period?  It depends on at least one very different approach: how you collect the data.   You can factor a distressed sale, such as NOT at the court steps, into a "sale" and treat it as normal.  Then, you have the sales volume increased or doubled.  

With different planet, who can argue with that?  Very clearly, it is against the first principle of economics, isn't it?  

Well, that's perfect ethical "honesty" of politicians explained.  Yes, we can't treat their speech as a lie as someone said "an oral sex is not a sex."  they are always perfectly honest, even they knowingly choose to use the tactics called "septic focus" to "deceive."  So many cheerleaders orchestrated a show to their interest nowadays.

It is really up to you to be smart with your own discipline or to be dumb with a herd mentality, isn't it?   I have no say about your action, but, sorry to say, it is  "your money" as Mr. Anderson, Channel 9 of Los Angeles, uses to end his program. 

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Dow Index tumbled 679.9 points today, December 1, 2008.

Is it a surprise to you?  No, it is not for me.  Because I read some great articles, I know there is no way for Paulson or Gaithner doing the right way to cure the root cause. 

One great article of them is encolsed here for your reference:  U.S. consumer confidence plunges on financial crisis5:57 AM ET, Oct 28, 2008.  If you read it and still act as GWB's boys like Paulson, blame yourself.

Supply, supply, supply, sounds we have a planned economy as those communists' did and failed.  But I am wondering where the demand goes? 

Are we idiots?  To those politicians who are good in solving a problem by creating other more serious problems, maybe.