Granted your point is well made and I should assume a lower level of intelligence for the masses.
Rustico/Cyphire –
Yes the example you guys brought up is indeed what I would call a misrepresentation of the market. However I cannot 100% fault the MLS or the associations. The entire structure is rickety.
Yes the actual data should have had a disclaimer that reads,
“These statistics are compiled from only homes that have sold…are for this type of house… this particular zip code… etc….”
Rustico yes it is absolutely correct that the statistics over all are in fact gross misrepresentations about the state of the market. IMO the same is true about the median price, etc…
Thus let me retrace… in that sense the posting by Cyphire is correct. Yes it is abysmal what Realtors, what Dataquick, what most of the talking heads and economists say about the situation and how they use or shall I say misuse statistics. Equally bad is that boneheaded people, or buyers, slurp this stuff up and live and die by it. Agreed with you guys.
My point is that for many people it doesn’t take extraordinary intelligence to get as much information as they need in light of the situation.
