In 2011, Forbes’ 23rd ‘Most Powerful Woman In The World’, HHS Secretary, Kathleen Sebelius was caught double-counting in the ObamaCare budget. Since then, the scandal has been ‘forgotten‘ – deep sixed.
Long shot, I know… but it’s as if Kathleen Sebelius, Goldman Sachs, GE, GM, Solyndra, Verizon, Toyota, National Association of Realtors and so many others knew all along there would be zero penalty for cooking the books.
Try double-counting your tax write-off’s…
[ SHN UPDATE: (see below) NAR launches 'OPERATION TIP-OFF' ]
Bailout Payback? Realtors Double-Count Home Sales For Five Years
(CNBC) Data on sales of previously owned U.S. homes from 2007 through October this year will be revised down next week because of double counting, indicating a much weaker housing market than previously thought.
The National Association of Realtors said a benchmarking exercise had revealed that some properties were listed more than once, and in some instances, new home sales were also captured.
“All the sales and inventory data that have been reported since January 2007 are being downwardly revised. Sales were weaker than people thought,” NAR spokesman Walter Malony told Reuters.
“We’re capturing some new home data that should have been filtered out and we also discovered that some properties were being listed in more than one list.”
The benchmark revisions will be published next Wednesday and will not affect house prices.
Early this year, the Realtors group was accused of overcounting existing homes sales, with California-based real estate analysis firm CoreLogic claiming sales could have been overstated by as much as 20 percent.
UPDATE (12.16.2011):OPERATION TIP-OFF: The National Association of Realtors Spin Doctor is ‘IN’
An anonymous tipster sent this NAR member talking points memo…
(anonymous) WASHINGTON (December 12, 2011) – Today the National Association of Realtors® Chief Economist Lawrence Yun met with economists from federal agencies and industry organizations to present the preliminary results of NAR’s rebenchmarking process for existing-home sales, begun in March of this year. All major statistical data series go through periodic reviews and revisions to ensure that sampling and methodology keep up with changes in the market, such as population changes in sampled areas, to ensure accuracy, and NAR’s EHS series is no exception. As NAR has reported, based on preliminary results, previous annual existing-home sales numbers will be revised downward. The final results will be released during NAR’s scheduled EHS press conference at 10 a.m. ET on Wednesday, December 21. However, it’s possible that attendees at today’s meeting may leak preliminary results before then, so we wanted you to be prepared if you get questions, particularly from Realtors®. Information about the rebenchmarking process is posted on Realtor.org – search “rebenchmarking” – but you can also use the following talking points if approached by Realtors® or members of the media.
Member Talking Points: What Realtors® need to know. · NAR is committed to providing accurate, reliable data, and this rebenchmarking helps the association accomplish that. · Home buyers and sellers are not affected by any revisions to NAR’s existing-home sales data. Median home prices will remain the same, and the data has no impact on consumers who want to buy or sell a home in today’s market. · NAR’s EHS series has experienced an updrift in sales projections over time because the model for calculating sales rates has gradually diverged with the actual marketplace. That’s due to a number of things, including: o Populations change in sampled areas o MLS coverage areas increase o For-sale-by-owner transactions have decreased in many areas o Some individual sales being recorded in more than one MLS o Prevalence of flipped properties · NAR has consulted with outside experts and government agencies to insure accurate modeling and data review. These include representatives from the White House, The Federal Housing Finance Agency, the U.S. Treasury, Federal Reserve Board, and the Department of Housing and Urban Development, as well as outside housing economists. · The numbers you may be hearing are not final results. NAR will announce the final results of the rebenchmarking process on December 21. · In the past NAR benchmarked to the decennial Census, most recently to the 2000 Census, because it included home sales data. · NAR has now developed a new approach using independent sources to allow for more frequent benchmarking. · Moving forward, NAR will be able to rebenchmark the EHS data every 1-2 years, which will greatly lessen any data drifts.
Media Talking Points: What you can say if the media contact you. · The numbers being reported are not final results. NAR will announce the final results of the rebenchmarking process on December 21. · Our local multiple listing service data is not affected by this rebenchmarking. NAR’s data revisions are in regards to national aggregate data and not information as reported by individual MLSs. · Please contact NAR’s media department at 202-383-7515. They are the best source of information regarding the national existing-home sales report and the rebenchmarking process.
Oops! HHS Secretary Kathleen Sebelius admits to double-counting in ObamaCare budget: HERE
ObamaCare Double-Counter Kathleen Sebelius destroys key evidence in Planned Parenthood case: HERE
Obama and pals use Christianity to sell ObamaCare: HERE
Budget Spin Meter: HERE
Misleading claims on national budget: HERE
Jesse Jackson, ‘We need more stimulus’: HERE
IRS gives $4.2 billion tax credit to illegal aliens in 2010: HERE
Bankrupt-Bankrupt GE to spend $30 billion as Obama administration continues to fund GE: HERE
Obama seeks $53 billion to fund ‘secretly’ bailed out GE for high-speed rail: HERE
Bankrupt-Bailed-Out-Government-Owned-Tax-Free-Overseas-Job-Outsourcing GE Tells American Business Owners, ‘Stop Complaining About Big Government’: HERE
Solyndra ‘Green’ executive: $100,000+ in Obama donations and 20+ White House trips: HERE
US Unemployment 20%+: HERE
Economic news from Big Brother, ‘The recession is over!’: HERE
1.9 Million fewer jobs since ‘recession ended back in 2009′: HERE
False unemployment and phony jobs claim: HERE
Media fall for phony ‘jobs’ claim: HERE
Michelle’s shovel-ready speech – nothing but horse apples: HERE
US Government is bankrupt: HERE
Bankruptcy declaration for states sought — QUIETLY: HERE