Friday, November 18, 2005

CNN On Housing Prices

CNN has an article about October home sales, the effects of higher interest rates, and the possible end of the housing boom. I'm not as interested in the article as I am in this one paragraph (bold emphasis mine):
The housing starts report contains no information on home prices. A separate government report last month showed that the median price for a new home fell 6 percent in September to $215,700. Half the homes sold for more than the median and half for less.
Really? This quote is classic for two reasons. I can't tell if the author, Chris Isidore, is trying to define the term "median" for his readers or he doesn't understand it. Additionally, after pointing out half the homes sold above the median price, he feels the need to tell us how the other half of the homes sold.

Anyway, a little math humor to brighten you day. (For the half of you, at least, whose math skills are above the median.)