Wikinvest Wire

Is soar the right word here?

Wednesday, August 26, 2009

Yesterday, CNN/Money reported that consumer confidence had soared after jumping to a level that was still about 40 percent below what would be considered "normal".

Today, we get a similar characterization for housing in New home sales soar in July.
IMAGE Is soar the right word here? Maybe headline writers should have another look at their dictionary before using that word again. Paraphrasing the famous Inigo Montoya, "They keep using that word. I do not think it means what they think it means."

Anyone bothering to check would find the following definition, one that clearly has both absolute and relative properties, helping to explain why you never hear about anyone or anything "soaring" while underwater.

soar definition
soar (sôr)
intransitive verb

1. to rise or fly high into the air
2. to fly, sail, or glide along high in the air
3. to glide along without engine power, maintaining or gaining altitude on currents of air: said of an aircraft, esp. a glider
4. to rise above the usual or ordinary level or bounds; be elevated soaring prices, soaring spirits
If there were a word for what deep sea divers do when they begin their ascent toward the surface, that would surely be better than "soar".

Nonetheless, the Commerce Department reported(.pdf) a short time ago that new home sales rose more than forecast in July, up 9.6 percent from June to an annual rate of 433,000, the sharpest increase in four-and-a-half years.

The number of houses on the market also dropped to the lowest level in 16 years, the months of supply metric dropping to just 7.5 months, the lowest level since mid-2007.

Bookmark and Share


Anonymous said...

Maybe it's sore.

Anonymous said...

How can the inventory decline be so pronounced when the sales increase was so modest?

Anonymous said...

Good question, where are the homes going? I saw an earlier report where they were bulldozing some, but surely that can't account for it.

staghounds said...

WTF is "consumer confidence", anyway?

It's like asking "is your spouse pretty", people have their own individual definitions and there's no actual thing to define anyway.

Anonymous said...

re how the inventory could decline so sharply - it is because new construction has nearly halted. So no new units are being added; only existing units are being sold; and many foreclosures are being held by the banks and not marketed at all. So virtually everything that has sold in the last six months got sucked out of existing inventory (whether it was a resale or a new unit that got built and sat on the market for a long time).

It looks funny on the chart but the math works out.

justin said...

Nice quote, one of my favorite movies ever.

  © Blogger template Newspaper by 2008

Back to TOP