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.