Thursday, April 12, 2007

More Proof David Lereah Has Lost Credibility

The peak of the housing bubble in the US in general was summer of 2005. David Lereah, the Realtors chief cheerleader recently said that:

“‘In August 2005 we peaked,’ Lereah said. ‘That was the end of the boom. We just went down from there."
True. One of Lereah's book which was published in Febuary 2005 was titled:

'Are You Missing the Real Estate Boom?: Why Home Values and Other Real Estate Investments Will Climb Through the End of the Decade -- and How to Profit From Them'

David Lereah should admit he cheerleaded this destructive housing bubble. It is time for Mr. Lereah to be remorseful and not backpedal. This guy has lost credibility. The media should be much more skeptical and critical of Lereah.

15 Comments:

At 10:34 AM, Anonymous Anonymous said...

SHAME SHAME SHAME ON YOU!!!!!!!!

House prices can up up up up 100% in 5 years or so and Lereah said that houses go up inflation +1 or 2%.

Now why isn't Lereah and his slick org saying that houses are overpriced beyond inflation 1+ 2% and should correct down in oder to correct this mispricing????


SHAME SHAME SHAME ON YOU!

 
At 10:35 AM, Anonymous Anonymous said...

SHAMEFUL!

The masses will revolt against realtors no matter how much BS advertising.

 
At 12:37 PM, Blogger Valerie Sargent said...

I already posted this once on the CAPS blog at the Motley Fool today, but it bears repeating.

David Lereah's comments on the residential real estate market continue to be unbelievably goofy. I know he's paid to be positive and prop up the NAR, but doesn't he CARE about his credibility? Doesn't he feel the LEAST bit remorseful about the lies he tells American homebuyers?

 
At 3:08 PM, Anonymous Lee Scott said...

The media absolutely shows this man too much respect. Like Valerie said, he has completely trashed his reputation (whether he knows it yet or not). I may actually feel sorry for him one day (I'm such a damn bleeding-heart), because he's set himself up to be a fall guy for the whole real estate bubble. I predict we'll see him pulled down soon in a way that makes what we did to Saddam Hussein's statue look weak in comparison. At the same time, the less well-known frauds will get away. But they'll resurface the next time the public looks ready to go on another binge of greed and gullibility.

 
At 3:37 PM, Anonymous Anonymous said...

How can someone continually lie for a living? The only reason he gave in was the convenient excuse provided by the subprime idiots.

He just put realt-whores in the same light as stock analysts and lawyers. Absolute lying whores!!

 
At 7:54 PM, Anonymous Anonymous said...

D Lereah May 12,2005

“When you look back at this decade in 20 years, you’ll remember it at a golden age for real estate,” he said."

http://www.realtor.org/rmodaily.nsf/pages/News2005051205

 
At 9:09 PM, Blogger Pegasus said...

D Lereah May 12,2008

David releases new book titled "Real Estate Sucks; A Fool's Market"

David has previously written several books in the last few years that flopped big time. Strangely they turned out to bought up by members of the Contrarian Cult. The books turned out to be the absolute bible in investing if you did the opposite of Lereah's advice.

"Those books made me big money" says Lorrie Ididahamster a former crack whore turned investor. "I did whatever David said not to do and I made millions. Thanks David for your untimely and erroneous advice."

Others perished financially by his books. Gary Wanglicker says "I did everything David Lereah said to do in those stupid books and I am broke and homeless" Gary was recently arrested outside of David's mother's trailer where he was trying to find David's grandpa(the woulda, coulda, shoulda reverse life expert hero in a previous book).

David refuses to reveal where he is living now or to utter any apologies to real estate buyers but he did offer to say that he is about to release two books titled "Real Estate Sucks" and "Grandpa Almost Got A Boner".

David's Mom has gone missing. She was last seen crossing the border headed toward Tijuana with a big German Shepherd dog named Max. She was heard exclaiming that making porn was the best way to make a fortune according to David's Grandma.........Oh boy....

 
At 7:52 AM, Anonymous Anonymous said...

“David Seiders, chief economist for the National Association of Home Builders, opened the session with a sobering housing outlook that was more pessimistic than the one he delivered at the International Builders Show in Orlando in February.”

“Seiders said there are a record 1.4 million excess vacant housing units for sale nationwide, and the number will grow as homeowners lose their properties to foreclosure. He expects more home and condominium price declines in many areas, including South Florida.”

“‘Some markets will really be in the doldrums for quite a while,’ said Seiders.”


Another clown a little to late.

SHAME ON THIS INDUSTRY!!!!!!!!

IT IS SICKENING. THE MASSES ARE ON TO THIS BS. AND MANY OF THESE DOPES ARE UNDERWATER LOOKING TO BLAME SOMEONE.
Know a few got to get in now or be priced out suckers and they are living a nightmare. They are "BITTER" HOMEOWNERS. LOL!

 
At 7:54 AM, Anonymous Anonymous said...

I will be buying a house at some point and NO THANKS TO THE NAR OR LEREAH because I will never use a realtor to buy a house. They aren't going to skim anything out of me. They need to eat ramen for 10 years.

 
At 10:54 AM, Anonymous Anonymous said...

Lereah would tell everyone that the world was flat if you paid him to say it.

 
At 3:10 PM, Anonymous Anonymous said...

Some people talk up real estate. Others suck di*k for money. What's the diff?

 
At 6:16 PM, Blogger Perfect Storm said...

David Lierah is the King of REALTAWHORES. Or should I say Queen.

 
At 4:27 PM, Anonymous Anonymous said...

In all honesty, what economist is ever right? I like to read contrarian information to get all sides of the debate, but is it necessary to call people names. Many of the posts are just anger. Is it possible to elevate the debate here?

 
At 7:15 PM, Anonymous Anonymous said...

what is with all the anger and calling him names! Is it possible to comment without injecting name calling into the picture. You might as well call him, a "Nappy Headed HO!" Simmer down now!

 
At 11:49 PM, Anonymous Anonymous said...

Whats to debate David Lierah is full of crap, everbody knows that what are you ignorant.

 

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