Wednesday, July 26, 2006

Short Lived Price Declines

Lereah had this to say:

"Could it be a 5 percent drop in prices? Could it be 10 percent? Whatever it is, it will be short-lived, because demand is right there on the sidelines," said David A. Lereah, chief economist of the National Association of Realtors.

7 Comments:

At 2:52 PM, Blogger Alan P. said...

Whatever it is, it will be short-lived, because demand is right there on the sidelines, said David A. Lereah, chief economist...

Whatever it is, it won't be the truth if D.L. says it. He is like a backwards barometer, when he isn't out and out lying, that is.

 
At 9:55 AM, Blogger agencyadvisor said...

but I thought real estate never went down?

I'm soo confused.....

 
At 11:59 PM, Blogger Greenlander said...

Thank goodness! I was afraid that we were going to have a 50+% drop in the San Francisco Bay Area, bringing prices back in line to their intrinic value.

Since David says that demand is right there on the sidelines, I don't have to worry about that anymore. I'm going to sleep a lot better now. Thanks, David!!!!

 
At 4:00 PM, Blogger john_law_the_II said...

it's been since july 26th since this idiot has said something?

 
At 8:02 AM, Blogger Dragasoni said...

This couldn't be further from the truth. If demand is so high, why are prices going down and why aren't people buying? What are these "sidelines" he is speaking of" Oh, the renters! Yeah, because us renters can afford these prices, let alone willing to pay these prices.

Thanks, but no thanks. I'll continue renting and saving over $1,000 a month compared to mortgaging my condo while the bubble deflates.

-Dragasoni-

 
At 8:19 PM, Blogger elklindo said...

What do you expect. The guy is a paid schill. He will spit out the positive spin no matter what. No objectivity. His primary interest is in increasing transactions, making money for the realtors, period..

 
At 6:32 PM, Blogger Empty Spaces Inc. said...

his job is to make sure that dues paying realtors keep making enough money to keep on paying their dues!

so he needs to placate the unknowledgable home buyers into thinking that housing is robust and prices are going to keep on appreciating 15%/year forever. And people want to believe that. They're just sheep.

 

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