Lereah 'It appears we've hit bottom' Again!
The NAR's November existing homes sales were released on December 28, 2006. One day later Mr. Lereah declares:
This is not the first time Mr. Lereah has thought that now is the bottom. On September 25th, 2006 Mr. Lereah said this:
"It appears we've hit bottom, the price drops are necessary to stir sales. It is working." (Globe and Mail Dec 29th 06)
"We've been anticipating a price correction and now it's here. The price drop has stopped the bleeding for housing sales. We think the housing market has now hit bottom."
But wait it gets much better. On May 25, 2006 Mr. Lereah uttered:
"This may be the bottom. It appears May is a little better."
When did we hit bottom? According to Lereah it keeps on moving. Mr. Lereah cannot be trusted. He just spews words to the public through the mainstream media. He is a paid shill. Don't trust him. Don't listen to him. This guy should be fully discredited by now.