I don’t know what is more idiotic: This horrific Reuters misquote, or the impossibly idiotic commenting system they have in place.
First, the misquote:
“Turning to the housing market, Barry Ritholtz at The Big Picture is predicting the worst in housing is likely over. Sure prices could fall another 33 percent — but it’s unlikely –because homes are now priced where they should be in today’s market, Ritholtz writes.”
The excerpt is not remotely what I have been saying or writing. Even the link they point to explicitly states “My basis for saying the worst is likely over are prices: We are off 33% from the peak, and as of the end of Q1, were ~5-15% over fair value by traditional metrics.”
Whoever wrote this embarrassing excerpt might in the future consider actually reading what the person wrote. You know, the rest of the wordy bits after the headline? THATS where the quotes should come from, versus mis-interpreting the headline.
Normally, I would merely leave a comment — but its been 2 days since I did that, and the Reuters comment have not shown up.