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The AP’s story on housing prices is 180 degrees from where it needs to be: 

The number of buyers who signed contracts to purchase homes dropped in May to the lowest level on record, a sign the housing recovery can’t survive without government incentives. 

No, home prices dropped to a record low because of government incentives. The AP’s ignorance here is shocking. Let me just reproduce the graph: 

The home buyer’s tax credit expired in April, which created a government incentive for people to shift their home purchases ahead of schedule. 

View all comments (5) |

Monty.Crisco| 7.1.10 @ 3:50PM

Wow, the media carrying Obama's water. Kind of like a story about a plane that lands safely - so common as to be invisible. Now where is purpledick to post that this is why the Dodd-Frank bill is so vital and more government overregulation of the economy necessary to recovery - or some other such economic illiteracy?

SoCon| 7.1.10 @ 4:26PM

As usual, the Leftist AP is "unexpectedly" wrong.

PCC| 7.1.10 @ 7:05PM

The AP and the blog contributor are equally wrong or, equally right, if you prefer.

More Blog Posts by Joseph Lawler

http://spectator.org/blog/2010/07/01/getting-the-story-exactly-wron

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