assume that when your altimeter is broken...
that the distance between you and The Ground...
hasn't changed.
And, that mountain right in front of you, therefore, is not there.
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Here is the first "distressing gap" graph after the benchmark revision for existing home sales.
Even with the significant downward revisions to existing home sales for the years 2007 through 2011, most of the distressing gap remains.
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Please, take note of the very far right of the red line.
that is how much better the new home sales were this month.
See the very far right of the blue line...
that is how much better the existing home sales were this month.
Now...
doesn't THAT make it all feel better.
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Home Sales: Distressing Gap (post revision)
http://www.calculatedriskblog.com/2011/12/home-sales-distressing-gap.html
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