Calling BS on the National Ass. of Realtors
Marinite has pulled the crap alarm on the head of the National Ass. of Realtors over at his blog. Well worth the time to read this verbal whoopin'.
"David Lereah is a lying rat-bastard if ever there was one. I'm sorry to
have to say it that way but this claim* of his is pure, unadulterated BS.
Now that the "housing market is so far gone that ‘it’s not rescuable anymore'", Lereah is back-peddling big-time:
Lereah and his fellow housing industry economists don’t come out unscathed. Critics say they generated unfounded optimism that the housing market would soar perpetually. Lereah counters that he has been forecasting a change for some time.‘I’ve been wrong for three years in a row. I’ve said we’re about to get a
correction. For three years, I’ve said, ‘This is the year that sales will
come down.’ ‘But now, it’s not because mortgage rates went up, it’s
because of the psychology of the marketplace,’ he said. ‘The prices just got too high.’
For more information on what the grand poobah of the National Ass. of Realtors has really said, check out David's David Lereah Watch site.