Say "Nay" To Frank Nason

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.

Advertisements

2 Responses to Say "Nay" To Frank Nason

  1. jnh says:

    You are making 2 assumptions (both probably incorrect):

    1..Current Sales Volume will continue

    2..No additional housing will enter the ‘For Sale’ pool

    Given above, IMHO, I believe the 11+ month figure is probably a good bet

  2. Ken says:

    I agree. Not to be a raticle, but I stopped buying the RJ just because of their ignorance. LV is a big city now, we need a newspaper that has smarts finally.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s