Experts In Being Wrong?

J.J. Jackson* | March 23, 2007

Always be wary when an “expert” tells you something.

WASHINGTON (AP) — Sales of existing homes unexpectedly rose in February by the largest amount in nearly three years, but analysts expressed fears that the recovery for the battered housing industry will be slowed by spreading troubles in mortgage lending.

The National Association of Realtors reported Friday that sales of existing homes rose by 3.9 percent last month, pushed higher by a sharp increase in sales activity in the Northeast. It was the biggest increase since a similar increase in March 2004.

…

Analysts, who had been looking for sales to decline in February, said the increase reflected warmer weather in the Northeast and Midwest and said that the housing industry is still not on a sustained rebound.

Oops.

I present this information because there are a lot of things “experts” tell us about from Global Warming to the whole eggs are good, bad and then good again debacle.

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