Saturday, October 28, 2006

David Lereah Watch Mentioned In Business Week

The David Lereah Watch was mentioned in Peter Coy's Hot Property column:
Every problem has to have a public face, and to many people, David Lereah is the public face of the housing slump. People say Lereah was too upbeat about house prices in the boom (he wrote a badly timed 2005 book called "Are You Missing the Real Estate Boom?" Now, they say, he has overreached to put a positive spin on the downside. There is an entire blog devoted to trashing the genial Lereah, who is chief economist of the National Association of Realtors

I'm not usually one for piling on, but I couldn't resist passing along this wisecrack about Lereah from Peter Schiff, the bearish president of brokerage firm Euro Pacific Capital, It was emailed to me by his brother and publicist:

"If the National Association of Realtors chief economist David Lereah had covered the arrival of the Hindenburg in New Jersey in 1937 (instead of Herb "Oh the Humanity" Morrison) it too may have been described as a 'soft landing.'"
Peter Schiff's joke about David Lereah is phenomenal. LOL! :-)


At 7:29 AM, Blogger jmf said...

the hindenburg quote is one of the best iĀ“ve heard so far.

At 7:38 AM, Blogger Jim Lee, Knoxville RealtorĀ® said...

But he's our paid shill. ;-)

If everyone agreed about everything it would be a dull world.

My area is not experiencing any sort of downturn.

The reason there is no "national real estate bubble" is because there is no national real estate market.

All real estate local.

At 5:33 PM, Blogger Market Participant said...

Jim, I agree with that statement, about the lack of a national real estate market. On a dollar weighted basis, in the markets that matter, we have a deflating bubble.

I think that if you were to look at the market in terms of turnover. I.e dollar value of real estate sold, you would find that the markets with the great turnover are also the most overvalued and dangerious.

At 10:08 AM, Blogger John Fontain said...

David - congrats again.

Keep up the good work.

At 8:52 PM, Anonymous Anonymous said...

Congrats on getting yourself mentioned!



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