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David Lereah's Greatest Housing-Market Hits

January 12, 2009 RSS Feed Print

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To get a sense of where the animosity toward David Lereah is coming from, here's a look at some of the former NAR economist's now-infamous musings:

From MarketWatch, via The Wall Street Journal:

January 2007

Lereah's forecast: "The good news is that the steady improvement in sales will support price appreciation moving forward."

Actual sales: Fourth-quarter sales fell at an annual rate of 2.3% to 6.24 million.

Lereah's post-mortem: "It appears we have established a bottom."

See the rest here.

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soundtracks of AL 7:51AM July 17, 2009

Hello Again Mr.Mullins,
Here's another food for thoughts.
I was thinking about the last article I read from you in regards to the 125% Home Loan to Value Refinacing, This option should have been on the Table during the Banks bailout. I think that which ever Banks agreed to the terms to help with this option or offer a lower interest rates to help should have been the Bank that was bailed out.
But I guess it's Too Late, I guess..
If it ever come up again in the future, Banks needing a Bailout: I will definately write my congressman to ask them to please place a clause on the terms.
No Bailout for any Banks unless they are willing to help:
Thanks Again
Ken

Ken of CA 12:56AM January 13, 2009

Due to the extension of the Real Estate cycle with the events of 9/11 from a 7 year cycle to an 11 year cycle you won't see the bottom until the prices drop another 20%. Also prices won't rise until people have a balance of jobs to income and a less than 3 month supply of inventory in the market. Look for the bottom to occur in 2011 or 2012 and a new cycle to begin with the mass home purchases by generation Y.(the children of the baby boomers) The problem is everyone gamed the system and now they are trying to game the solution. The cycle has to correct itself on its own terms. Right now the biggest obstacle in the real estate market is the fear of job loss.
I am a real estate agent in New Jersey and I have been tracking the market since 1999.

Rick Panson of NJ 5:11PM January 12, 2009

David Lereah's Greatest Housing-Market Hits

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