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LEREAH SAYS BUY NOW !!

It is official – David Lereah quoted on CNN – and everyone is doing just what he says!

Lereah Says Buy

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  • 11 comments

    11 Comments so far

    1. [...] Housing should be, except in rare instances, a three to five year decision. We have lost sight of that over the past several years. The media has played a very large part of that, but so have the buyers and sellers. Let’s take a breath, step back a bit, read the apocalyptical and rosy projections and determine that reality is probably somewhere in between. [...]

    2. Phil Hoover December 29th, 2006 12:12 pm

      Amen, brother Jim.
      Extreme positions, be they negative or positive, have little to do with the reality of the marketplace.
      Given enough time, everything eventually returns to the median.
      Then, with a little more time, we resume a reasonable trajectory of growth.
      It seems that many have forgotten that you buy a home to LIVE in; not to be used as your personal ATM.

    3. Joe December 29th, 2006 8:33 pm

      From signonsandiego:

      “While recent signs have led some economists to speculate that the worst of the housing slump has passed, many are taking a wait-and-see approach, including those at the Realtors association.”

      “‘Maybe we’ve hit bottom,’ said David Lereah, chief economist of the Realtors association. ‘I’ll need another month before I can get comfortable with that statement.’”

      Go ahead and dismiss it, but that is patently revisionist history. Lereah is on record at least 2 previous times saying that “the worst is already behind us”.

    4. Brian Brady December 30th, 2006 12:15 am

      Joe:

      I’m not so certain that stating that “the worst is behind us” is necessarily calling a bottom. It’s simply stating that the “worst” is behind us.

    5. Russell Shaw December 30th, 2006 12:40 am

      Hey hey hey! Did EVERYONE miss the point? It was a JOKE!

    6. John L. Wake December 30th, 2006 2:19 am

      On a serious note, I want to move to wherever that gal is the news anchor.

    7. mike December 30th, 2006 8:58 am

      Hey hey hey! Did EVERYONE miss the point? It was a JOKE!

      Russell, congratulations, you accidentally provoked an actual discussion, not just more Borg-minded applause and head nodding.

    8. mike December 30th, 2006 9:10 am

      Given enough time, everything eventually returns to the median.

      Absolutely.

      It’s amazing how many people whose financial future depends on understanding fundamental, undeniable, economic concepts like reversion to mean, either don’t know it or thought that this bubble would be different.

    9. mike December 30th, 2006 9:17 am

      Go ahead and dismiss it, but that is patently revisionist history. Lereah is on record at least 2 previous times saying that “the worst is already behind us”.

      Don’t expect this group to acknowledge Lereah as dishonest in any way, shape or form.

      They don’t seem to realize that every time Mr. Lereah gets on TV or in the press and tells yet another whopper, as the the spokesman for the NAR, when’s he’s disingenuous, it reflects badly on all realtors.

    10. Joe December 30th, 2006 4:25 pm

      Brian:

      I’m not so certain that stating that “the worst is behind us” is necessarily calling a bottom. It’s simply stating that the “worst” is behind us.

      Uh, wouldn’t not being at the bottom imply that things are going to get worse?

    11. UrbanDigs December 30th, 2006 8:15 pm

      Lehreah said something? What did he say? Did I miss it? Was I suppose to buy something? Is the sale over? WHATS HAPPENING!!!!!!