In his continuing role as “the guy who can’t do math”, Frank Nason reported to Hubble Smith in yesterday’s article that “the supply of single-family homes is down to 11.8 months”. This is foolish and wrong. To carry out the “How Wrong is Frank Nason’s Math” exercise, do the following:
1) go to the MLS database and get the total number of EA and ER single-family residential units (currently 16,861)
2) next, do a search on the number of SFR units that closed in August (2550)
3) Get a calculator
4) Divide 2550 into 16,861.
5) Look at the answer of 6.6 months.
6) Compare it to Frank “I just double everything for good measure” Nason’s number above.
7) Shake your head
8) Wonder how this stuff gets printed.
Another month of this and Frank may actually take the top position of “Who gives Hubble The Most Misleading Information”, supplanting the GLVAR’s routine miscounting of pending units.