Great post. Here's the actual article that hit the NY Times a few days ago.
I think this is the straw that broke the camel's back. I think there needs to be a call for sweeping reforms of standards within the real estate industry. From a standardized, publicly-available property listing service to generally accepted accounting practices when it comes to properly listing and recording the sale of a property. Propping up the price in this sneaky way will only serve to get us in more economic trouble in the long run. I hope the Fed, other key financial players, and we the people demand this change. It is frightening to know that the Fed is making huge financial decisions based on false property sale data.
