New Home Sales Drop to a Record Low
By: Brittany Fastuca
February 25, 2010
"The housing market is still flat on its back and it is only being held together -- as well as it's being held together -- by very aggressive actions by the federal government," said Mark Zandi, chief economist at Moody's Economy.com in the Los Angeles Times. There are no signs of stop the deep plunge the new homes housing market is going through after a huge leap to 11.2% this past month compared to the previous month. This is the lowest the new homes housing market has been in 13 years. Funny thing is, previously occupied homes continue to over sell new homes even though the construction of new housing is supposed to help the United States break out of this hard economic time.
"Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades," according to USA Today. Obviously USA Today, knows how to exaggerate since according to Los Angeles Times it has only been a decade since the new housing market has been this low. One good thing about USA Today's exaggeration is their timely manner. The publication came out in front of the pact with immediacy by several hours. All articles keep with the same 11.2%, making all articles seem very credible.
"The sickly housing market was socked with another dose of bad news on Wednesday when the Commerce Department reported that new home sales fell in January to the lowest level since record-keeping began in 1963," which is how David Streitfeld and Javier Hernandez from New York Times puts it. New York Times comes out of the race between the three news publications with the best lede. This definitely could count as a zinger giving this article a lot more spice compared to Los Angeles Times and USA Today. New York Times also agrees with the 13 year all time low, showing that USA Today is over dramatic. USA Today continues to carry this trait through out the article with multiple "unexpectedly"s, using more climatic words like "fledgling" and "heighten fears" to explain the economy. As for the Los Angeles Times, the publication goes about the news in a more relaxed manner by just dishing out facts to inform people exactly what is going on with the economy without completely scaring them after they read the article. Overall, the New York Times displays the news the best by catching your eye from the beginning and also including more facts even to the raise in percentage of new housing supply in January.
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