Tuesday, December 05, 2006

David Lereah: Market Stabilizing

David Lereah, the most prominent housing cheerleader recently said in a statement that:

"It's important to focus on where the housing market is now — it appears to be stabilizing, and comparisons with an unsustainable boom mask the fact that home sales remain historically high"

The market is far from stabilizing. The housing boom lasted five years plus in many locations. Why does Lereah think the the housing market will stabilizile after only 1 year, or so, of declines? Historically, housing busts last for many years. Perhaps it is because Mr. Lereah is a paid shill of the housing industrial complex.

3 Comments:

At 6:31 AM, Blogger kbr7171 said...

David,

Thopught you might like this quote from a Chicago RE board I go on.

"and simply unfair to David Lereah, who's the NAR's chief economist. The NAR's economists generally garner respect for their opinions."

http://yochicago.com/today/market-conditions/are-the-buyers-buying-again_3288/

 
At 3:51 PM, Blogger Rob Dawg said...

The SS Posideon stabilized for a while.

 
At 9:59 AM, Blogger Mort said...

Why does Lereah think the the housing market will stabilizile after only 1 year, or so, of declines?

I think you answered your own question, but may I interject, because he is an egocentric a-hole. If you watch his body language during interviews (especially facial expressions) it betrays the fact that he doesn't believe his own spew.

 

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