Monday, February 16, 2009

Time Magazine Names Lereah as Part of '25 People to Blame for the Financial Crisis'

Time Magazine Names David Lereah as Part of '25 People to Blame for the Financial Crisis.' The page on Lereah is here.

When the chief economist at the National Association of Realtors, an industry trade group, tells you the housing market is going to keep on chugging forever, you listen with a grain of salt. But Lereah, who held the position through early 2007, did more than issue rosy forecasts. He regularly trumpeted the infallibility of housing as an investment in interviews, on TV and in his 2005 book, Are You Missing the Real Estate Boom?. Lereah says he grew concerned about the direction of the market in 2006, but consider his January 2007 statement: "It appears we have established a bottom."
Nice. Well put. He definitely deserves blame for the current financial crisis. It would have been much better if the mainstream media had shined the light of scrutiny on David Lereah back during the height of the bubble when he was cheer leading the bubble and then later denying the bust.

12 Comments:

At 9:01 PM, Anonymous Anonymous said...

Again, we're digging a grave for someone who's already dead. Who cares? Let him rot in peace.

 
At 1:47 PM, Anonymous Anonymous said...

First time I am seeing this blog...awesome! Maybe expand it to follow up on so many other 'experts', and the current antics of the clown college / Congress bribe machine that is the NAR. I'd also like to see stories about people in RE who made like $500k in 2005 and are now either in jail or working as a busboy or something.

 
At 8:43 PM, Blogger OJ Simpson said...

he was a cunt. shame on him

 
At 8:07 PM, Anonymous Orlando said...

Hopefully this is over sooner than later

 
At 11:00 AM, Blogger adrin said...

He should be shamed what he did !!!

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At 11:05 PM, Anonymous ポテト said...

ポテトパンケーキに時間がかかりそうだし、マヨネーズ大きめのグラタンほどこってりしてないので、やはり赤と言えば、野草栽培をジャガイモに新じゃがは柔らかいので、かぼちゃとタラのグラタン材料でちょうどポテトサラダ。

 
At 7:39 AM, Blogger workhard said...

Good article....


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At 10:15 PM, Anonymous Laguna Beach Homes said...

Either you dig grave for someone who is dead or not but let us not say rot in peace. We all shall rest in peace some day.

 
At 10:35 PM, Blogger alice said...

This is really eye catching content which you wrote and finally i came to know some important factor too. I have also new source of cayman property, you can go through it.

 
At 7:21 AM, Anonymous Billy said...

Interesting article; Mistimed Housing Finance Reform Could Derail Housing Recovery http://www.totalmortgage.com/blog/mortgage-rates/mistimed-housing-finance-reform-could-derail-housing-recovery/8052 just proves how fragile the real estate market is. NAR will say anything to promote sales.

 
At 11:55 AM, Anonymous Government Loan Pro said...

Anonymous has it right. What's the use in blaming a dead person. They've done all the damage they can do. Instead of blaming someone who's already gone why don't we focus attention on fixing the problem.

 

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