Thursday, February 24, 2011

Economics 101

South Florida saw existing home sales hit stride in January, with more than 2,500 condos sold in the month. But the sales surge—the largest since 2005—came amid still-drooping prices.

-from the lead article on the front page of the Miami Herald this morning.

This is news? Sales go up when prices go down? The way those two sentences I quote are put together, especially with the second sentence beginning with the word "But" indicates that the Herald sees a correlation, but misses the connection.

But that's the Herald, and none of us is surprised.

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