Lereah Calls Bottom For At Least The Fourth Time

David 'Paid Shill' Lereah is now claiming the the housing market is doing a whole lot of scratching and that housing had hit bottom.

"Sales have hovered for the last four months, scratching bottom and then coming up, scratching bottom and coming up again. We are comfortable this is now the bottom"

Due to all this scratching going on, perhaps, David Lereah is confused and has falsely called the bottom multiple times. This was his fourth time calling bottom (that I am aware of). Mr. Lereah has called the bottom on the following dates:

• May 25, 06: "This may be the bottom. It appears May is a little better." (Real Estate Journal)
  
• September 25, 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." (Bloomberg)
• Dec 29, 06: "It appears we've hit bottom, the price drops are necessary to stir sales. It is working." (Globe and Mail )

Don't be fooled by David Lereah as he is part of the Real Estate Industrial Complex (REIC). Lereah cannot be trusted. Mr. Lereah is a paid shill who is fully discredited.