- Forbes writer claims "97% of Americans'" homes are worth "significantly less" than what they paid. Nope. http://t.co/cSwnNmJo ->
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Had he said 20%, I’d have believed it and not even blinked. 97%? Not even possible, and makes one wonder how wrong everything else he wrote in the article is.
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RE: Ira Sacharoff @ 1 – Exactly. I got to that part and it was so ridiculous I just assumed most of the rest of the article was made up.
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Here’s a followup up comment by the author.
“The 97% number was meant to be an intentional exaggeration to drive home the seriousness of the current foreclosure market, not an actual statistic. I apologize for any confusion.”
As long as we are talking about homes being overvalued, why not take a look at Fitch’ belief that homes are currently priced about 10% too high. Of interest, they think inflation over time will offset most of the potential price drops though.
http://www.housingwire.com/news/2013/01/04/fitch-warns-home-prices-overvalued
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RE: Jonness @ 3 – That reply is worse than the original error. He now admits that he has license to make up numbers to make points? WTF? Another example of the fall of Forbes. I tried to read an issue last week. Short one-page puff pieces and “lifestyles of the rich and famous” featurettes. No thanks.
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RE: wreckingbull @ 4 – Interesting you mention Forbes. I found this piece earlier today:
http://www.forbes.com/sites/timworstall/2013/01/06/links-6-jan-why-cant-windows-phone-get-google-maps-because-ie-isnt-good-enough/
The idiot doesn’t understand the difference between Internet Explorer on a desktop and Internet Explorer on a mobile phone OS that has only a tiny percentage of the market.
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