I don’t have a problem admitting when I make a mistake and it seems as though I may have made one in regards to my math in a previous post. To confirm however, I thought I’d take the question to the readers. Poll Time!
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January 14, 2009 at 10:16 am
rolfsf
I think it depends on the wording of the question… and the wording is confusing.
Year Z is about 40% of Year Y (51*0.392 = 20)
Year Y is 255% of Year Z (20 * 2.55 = 51)
and yes, the difference (51-20=31) is 60% (of Year Y) (51*0.6=31)
ouch
January 14, 2009 at 10:19 am
Garrett
well said rolfsf!
January 14, 2009 at 6:03 pm
mortgage analyst
Rolfsf’s comments are accurate.
However, Garrett, your posted question in the poll is not the right questions. Let’s look at the text you originally posted:
“Last week was a slow one for closed transactions, a pretty typical pattern for the second week in the year, but combine a post-hangover week with a tighter than usual credit market, confused buyers and sellers, and decreasing prices and you’ll get 155% fewer sold homes versus the same time period in 2008.”
The question you should have posted:
51 sales in Year Y. 20 Sales in Year Z. What is the percentage reduction in sales from Year Y to Year Z?
The answer is 60%.