It just makes me laugh when I read in The Tribune about how home values are rising (July 25).
They have grossly misled people using DataQuick figures in the past, and now they are doing the same again. Median values are nearly meaningless. If you have two home sales a year ago of inexpensive homes, and 12 months later you have two expensive homes sales, the median sale price of homes could be up 200 percent.
Are values really increasing?
If you stop making something that everyone needs, and you stop making them for about five years, when values bounce off the bottom of the market, don’t you think the value will increase automatically? Not too long ago (and still in some places) you could buy a home for the cost of its materials, and you get the site and all the labor to build for free. Would that raise prices alone, if people could borrow cheaply?
This is what our “news outlets” have become. Blindly repeat what others tell you is fact. Then print it and advocate it as unexpected or astounding. It is just a great disservice to people and is a blueprint for further greed.