In a post yesterday, we said the following:
The story and the accompanying graphics above paint a picture that’s glum if not grim. Chicago prices peaked in September 2006 and have since dropped 1.7 percent, according to the S&P/Case-Shiller Home-Price Indices, calculated by market research firm MacroMarkets.
The math is slightly off. The Case-Shiller index value for Chicago was 168.60 in September of 2006, and 165.96 for June 2007. The decline was, therefore, 1.6% rather than 1.7%.
We also, somewhat misleadingly, failed to note that the June index for Chicago rose slightly from the May 2007 value of 165.68, a result that’s neither glum nor grim.
In fact, if you bought in May 2002 (index value 120.38) or May 2004 (index value 141.28) you may be sporting a grin.
The older I get the more I come to realize that reporters are just as lazy as the rest of us. The quality of most “reporting” is appaling. As is my spelling.
Most reporters look for the easy story with the easy “hook”. Relatively little serious reporting on anything gets done. Unless you need to know the color of Paris Hilton’s panties, assuming she wears underwear, little fact checking goes on in the news industry.