Southern California Home Prices Did Not Set a New All-Time High Last Month

Fight disinformation. Get a daily recap of the facts that matter. Sign up for the free Mother Jones newsletter.

From the LA Times today:

The Southern California median home price surged 8.2% in May from a year earlier, hitting a new all-time high of $530,000, according to a report Thursday from CoreLogic.

Aw, come on. I appreciate the sentiment, and I agree that home prices are starting to look a little frothy in certain places. But you really have to account for inflation if you want to declare something a “new all-time high.” The Times reports that the previous high was $505,000 in July 2007, which is equivalent to $610,000 today. We still have a ways to go before we set a new record.

What makes this worse is that the Times piece acknowledges this in the seventh paragraph. They know we haven’t set a new record, but they still say so in the headline, the lead, and the accompanying chart. That’s just not good reporting.

ONE MORE QUICK THING:

Or at least we hope. It’s fall fundraising time, and we’re trying to raise $250,000 to help fund Mother Jones’ journalism during a shorter than normal three-week push.

If you’re reading this, a fundraising pitch at the bottom of an article, you must find our team’s reporting valuable and we hope you’ll consider supporting it with a donation of any amount right now if you can.

It’s really that simple. But if you’d like to read a bit more, our membership lead, Brian Hiatt, has a post for you highlighting some of our newsroom's impressive, impactful work of late—including two big investigations in just one day and covering voting rights the way it needs to be done—that we hope you'll agree is worth supporting.

payment methods

ONE MORE QUICK THING:

Or at least we hope. It’s fall fundraising time, and we’re trying to raise $250,000 to help fund Mother Jones’ journalism during a shorter than normal three-week push.

If you’re reading this, a fundraising pitch at the bottom of an article, you must find our team’s reporting valuable and we hope you’ll consider supporting it with a donation of any amount right now if you can.

It’s really that simple. But if you’d like to read a bit more, our membership lead, Brian Hiatt, has a post for you highlighting some of our newsroom's impressive, impactful work of late—including two big investigations in just one day and covering voting rights the way it needs to be done—that we hope you’ll agree is worth supporting.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate