US: Actual house sales since 2007 are below reported levels.

Story reported 16th December 2011



Sub-heading; “Estate Agents tell untruth”.

Blue Horseshoe

“The numbers may be lower, and even significantly lower, than we were led to believe, but we’ve already felt the effects of those numbers on a national economic level. The reality existed regardless of what the numbers were perceived to be.”

Read more: … z1giS0hA50

This quote from the link reminds me a bit of the Dept of Finance response to the missing €3bn in the govt accounts.