Two problems for futuring: the past and the present

Today we learn that American housing market data for 2007-2010 was significantly flawed.

For example, :

2008 was the worst year for home sales during the housing bust, with only 4.11 million sold, down 16% from the previous estimate of 4.91 million.

Home sales for the first 10 months of this year were also revised downward. October’s sales pace was lowered to a rate of about 4.25 million sales per year, from an original estimate, from an original level of 4.97 million.

Fewer home sales than reported.

This makes extrapolation difficult, weakening the starting data.

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