Monday, March 05, 2007

Fellow Bloggers Support David Lereah Watch

Some of my fellow bloggers have come to my aid against David Lereah. Socal Housing Bubble writes:
To me, the only thing that’ s wierd is that he hasn’t taken on any of the other detractors… who have much worse to say, are more read, and more specific to his stupidity. That he had to bring his mommy into the picture makes me wonder if he’s willing to fight his own battles.

That David Lereah is a baldface liar, or unbelievably incompetent is never questioned in the mainstream media. That some 26 year old has to ask the question (and it attains national media attention) means that it has struck a nerve… David, you have finally made it… Congratulations.
Furthermore, Andrew Leonard from How The World Works at Salon magazine writes:

Now comes a Fortune interview that surprisingly reveals Lereah to have had doubts and fears about the housing market as far back as two years ago (when he says he knew the subprime market was "in trouble"). On a normal day, we would make some effort to track down Lereah's public statements at the time and see if he shared any of that insight with the general public. But this is no normal day. In the interview, David Lereah takes a shot at blogger David Jackson, Lereah's most relentless critic in the blogosphere. As a part-time housing bubble blogger, How the World Works must stand in solidarity. (Thanks to the Housing Bubble Blog for the Fortune link.)

Thanks for the massive complement when you called me 'Lereah's most relentless critic in the blogosphere.' I am humbled.

Keith, over at Housing Panic, strikes hard at The Corrupt David Lereah, TCDL, as he calls him.

Here's the latest from The Corrupt David Lereah in Fortune magazine. This guy contradicts himself so much in the same interview, he must be either bipolar or crazy. Absolutely bizarre. I think he needs an intervention.

To David over at the davidlereahwatch and my fellow bubble bloggers - let's turn the heat up on this guy even more. The MSM must stop picking up this guy's BS as truth, he must be called out for what he is, and the NAR must be exposed.

The people of America (and the MSM) should see TCDL as the discredited hack that he is. "Lereah" should go down in American history as yet another Charles Ponzi, yet another Henry Blodgett, yet another snake oil salesman spreading lies and destruction for profit. And the perfect personification for a corrupt REIC and a pathetic and paranoid National Association of Realtors.

A HOUSINGPANIC MESSAGE TO THE CORRUPT DAVID LEREAH:

MR. LEREAH, YOU'RE A LIAR, A HACK AND A SHILL. YOU AND YOUR MASTERS AT THE NAR ARE HURTING AMERICA. FAMILIES ARE LOSING THEIR HOMES BECAUSE OF YOUR LIES, CHEERLEADING AND DISTORTION. MILLIONS WILL GO UNEMPLOYED BECAUSE OF YOUR BUBBLE.

HAVE YOU NO SHAME?

Thanks to my fellow bloggers, and others, for helping me criticise David 'Paid Shill' Lereah. He deserves the harsh criticism he has received from the blogosphere. David Lereah you are under increased scrutiny.

8 Comments:

At 5:00 PM, Blogger sixpercenter said...

As a twentyone year military veteran I can safely say Lereah is the most target rich environment I've seen. In the end he'll make Grubman, Blodget and Quatronne look like saints.

If Lereah's mother is saddened by the blog she has only herself to blame. Didn't she tell him its wrong to lie?

Turn up the heat, Dave. Plenty of targets. This subrime implosion is directly related to Lereah's constantly lying "you can't lose!!"

 
At 7:33 PM, Blogger DC DECADE said...

Congratulations David-my husband and I live in Northern Virginia and we are sick of the overinflated prices. Thanks for helping bring these bastards down!

 
At 10:03 AM, Blogger John Fontain said...

It's kind of funny to think that that Lereah, the public spokesman for the most powerful lobbying entity in America, is quaking in his boots over criticism from a 26 year old "bitter renter".

 
At 1:08 PM, Blogger Bookworm said...

Thanks for exposing the home builder complex...Their day of reckoning will come...keep up the good work. I work in finance and your posts are a welcome from all the crap the Investment Banks put out......Don't give up...

 
At 4:37 PM, Blogger satish said...

For the past two months now the inventory numbers actually improved for the country. Mortgage rates are still low. The Fed is going to behave. So there are a lot of good signs that the worst is over for housing.

This guy lies through his teeth. I have been tracking the inventory in 55 cities provided by housingtracker.net Barring 5 cities, inventories has been going up in the remaining 50.

 
At 8:35 PM, Blogger RodgerRafter said...

Keep up the good work DLW. Here's my own blog entry from 9/2/06 taking Lereah to task for his lies and deception:

http://rebalancing.blogspot.com/2006/09/mainstream-economist-lies-pending-home.html

It includes charts, including pending home sales matched with DL's quotes along the way down, and my own anaysis:

OK, Dave, here's the fundamentals:

Builders have built way too many houses and they are still building too many because they're stuck with too much land.
Borrowers have overextended themselves and the defaults and foreclosures have only just begun to rise.
The economy is begining to roll over and things will get really ugly when the recession begins.

You know this, Dave but you continue to lie through your teeth to promote a narrow, selfish agenda. Hopefully someday someone will take you to task.

 
At 6:21 PM, Blogger Emmanuel said...

Lereah should not go after his critics but try standup comedy instead.

 
At 11:08 AM, Blogger Jazen said...

I call for the execution of David Lereah!
Unless his mom is reading this, then let's just say he was a mistaken wayward fool.

 

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