Thursday, March 27, 2008

Where in the World is David Lereah?

David Lereah no longer works at Move Inc where he was the Executive Vice President. During the time period Lereah worked at Move Inc, their stock price decline sharply. He now works at Reecon Advisors in Washington, DC. For more info see here.

David Lereah was recently featured as an 'expert' on the housing market on a MSNBC piece. One thing Mr. Lereah said was "If the housing market continues to slump, the economy will continue to slump."

Wednesday, March 05, 2008

Q & A Time with the Blogger

David Lereah left the National Association of Realtors almost a year ago. What are the plans for this blog?

The blog will continue to operate as documentation of the David Lereah's role in the destructive US housing bubble. Prominent commentators (those who receive significant media attention) need to be monitored by concerned citizens.

Why did you start this blog? Why do you care?

I started this blog for two reasons; economic activism, and because it is enjoyable. I strongly believe that paid shills, like David Lereah need to be taken to task for their half truths, manipulations, wrong predictions, and destructive cheerleading. It was a way to prevent people from buying at or near the top of the housing bubble.

Is there anyone you want to thank?

My fellow housing bubble bloggers who deserve much credit for helping to expose David Lereah. Particularly, Keith from Housing Panic. Keith is a true ally in helping to discredit Mr. Lereah. Also, thanks to all my readers.

What do you have say to those who say Mr. Lereah was just 'doing his job' as a spokesman for the National Association of Realtors?

It doesn't really matter. Mr. Lereah's is still liable for half truths, manipulations, wrong predictions, and destructive cheerleading. The housing bubble was a gross misallocation of capital. It is having negative effects on our economy now and for many years to come. Mr. Lereah led people into irrational decisions. The foreclosure rate is an outgrowth of the housing bubble. Mr. Lereah and others are in part responsible for this travesty.

Do you feel your blog contributed to David Lereah's exit from the Realtors' Association?

Yes. Reality would have discredited this paid shill anyway, but this blog hastened David Lereah's inevitable departure.