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LEREAH PUSHES IT EVEN FURTHER

NAR Chief Economist, David Lereah totally ignores his detractors by continuing to make predictions about the real estate market. Now he is officially in the dictionary (dictionary.com), listed under the word, “persuasive”.

Lereah persuasive

United States citizens not wanting to purchase a home have been powerless to resist Mr. Lereah’s announcements that “they should” purchase a home now.

Using a form of Mind Control known only to the initiated few, Lereah has run roughshod over anyone trying to not buy a home.

Now, even his detractors, previously intent on renting, are starting to “call a Realtor” – as Mr. Lereah has “suggested” they do. 2007 will be very interesting to watch, as this battle continues to unfold.

What is at stake in this fight is the freedom for individuals to think what they want to think. It seems the National Association of Realtors will stop at nothing short of World Domination and uses Lereah to force everyone to “see it their way”.

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HAPPY NEW YEAR!!

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  • Merry Christmas David Lereah
  • Anonymous Posters Who Hate Lereah

  • 13 comments

    13 Comments so far

    1. Rob Chipman December 31st, 2006 7:34 pm

      Happy New Year, Russell!

      How do you stop a guy like Lereah? Is it a stake through the heart kind of thing or do we need government legislation? I’m a Realtor myself, but only because I beleive if you can’t beat ‘em you better join ‘em, but the whole mind control thing is making me feel guilty. I mean, I’ve actually said to people “Buy rental real estate that makes sense, and that you can hold long term. Its not a get rich quick scheme, but it is a get rich scheme”. I might be controlling some minds myself. At least its an appropriate time of year to change my evil ways ;-)

    2. mike December 31st, 2006 9:31 pm

      How do you stop a guy like Lereah? Is it a stake through the heart kind of thing or do we need government legislation?

      Legislation? Nope, we just need more honest people, like this realtor: Not My Favorite Clown

    3. mike January 1st, 2007 11:30 am

      You seem to be able to appreciate a good Lereah joke, Russ, so here’s a funny montage to start the New Year:

      Lereah ‘It appears we’ve hit bottom’ Again! (scroll down)

      The NAR’s November existing homes sales were released on December 28, 2006. One day later Mr. Lereah declares:
      “It appears we’ve hit bottom, the price drops are necessary to stir sales. It is working.” (Globe and Mail Dec 29th 06)

      This is not the first time Mr. Lereah has thought that now is the bottom. On September 25th, 2006 Mr. Lereah said this:
      “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.”

      But wait it gets much better. On May 25, 2006 Mr. Lereah uttered:
      “This may be the bottom. It appears May is a little better.”

      When a market continues to deteriorate, as real estate has, it’s not truthful to characterize the decline as repeatedly “hitting bottom.” Is it?

    4. Russell Shaw January 1st, 2007 1:24 pm

      It looks like your humor bypass was a complete success.

    5. mike January 1st, 2007 1:57 pm

      It looks like your humor bypass was a complete success.

      Russ! You don’t find that funny?!

      We’ve hit bottoms 3 times just since May! Watching Lereah call “bottoms” is like watching Homer Simpson bouncing down a staircase: D’Oh! D’Oh! D’Oh!

      Come on, Russ, where’s your sense of humor?!

      Let’s start a Lereah pool: How many more “bottoms” will Lereah find before next May? I’ll take “3.” What’s your guess?

    6. Joe January 1st, 2007 3:24 pm

      Except that his post was far funnier than yours, Russ.

      Seriously, do you think that your Lereah posts are somehow entertaining?

    7. Russell Shaw January 1st, 2007 11:37 pm

      Seriously, do you think that your Lereah posts are somehow entertaining?

      What is “funny” to you is to degrade others. Anything against NAR, Realtors or anyone successful – that is real funny stuff for you. It is about the only thing you seem to find funny. You – along with a few other anonymous snipers – never have anything constructive to add to any conversation. The emotional response sitting behind almost everything you ever have to say ranges from covert hostility (passive – aggressive) all the way up through hate to antagonism.

      You (along with the other anonymous cowards) seem to pride yourself on your analytical skills – yet not one of you can properly evaluate data. What you see from “your observations” is limited to your own prior evaluations. Translate: you don’t see much. Finding humor in anything is based on being able to see what is illogical. But as you “already know” everything about David Lereah is just totally wrong – it isn’t possible for you to enjoy something lighthearted on the subject, because for you, there isn’t anything lighthearted possible on that subject. You are obsessed with making him wrong.

      Yes, I did find it funny. But as it was people who think like you I was poking fun at – I totally understand, that for you – there was nothing funny about it.

      I don’t expect you to understand or agree with anything I’ve written here – like all zealots, your conclusions were reached long before I showed up. I didn’t write this for you.

    8. mike January 2nd, 2007 10:00 am

      You (along with the other anonymous cowards) seem to pride yourself on your analytical skills – yet not one of you can properly evaluate data.

      Analytical skills is a fine subject for a new thread and it fits right in with the blog’s formal charter for rigorous real estate analysis.

      Obviously, we disagree on what the available data are saying. I see continued deterioration through ’07, you (as best I can tell) see roses coming up in the springtime.

      Soon, one of us will be proven wrong, very wrong.

      Why not dispense with all the Lereah baloney and start a new thread for rigorous analysis of the data and the health of the real estate market? We can look at Scottsdale, The State of Arizona or the US. You pick.

      I don’t expect you to understand or agree with anything I’ve written here – like all zealots, your conclusions were reached long before I showed up.

      For what it’s worth, when you’re being serious and professional – and not stooping to calling people “cowards” – I agree with a lot of what you write.

    9. Joe January 2nd, 2007 10:51 am

      Wow, Russ, what’s with the emotional outburst?

      I’ll just chalk it up to you confusing me with somebody else. I’m not some sniper, or bubblehead, or “zealot” to use your word.

      I let my posts speak for themselves. Go ask Brian, Jeff, or anyone else on this blog if I have had nothing valuable to contribute to the conversation. You clearly have not read anything I’ve written, and instead have the same knee-jerk reaction to just about anybody who dares to disagree with you. Seems to me that I’m not the one who’s the zealot.

      And trust me on this one – I will stack my ability to evaluate data up against yours any day of the week. My job depends on it, as do the fine folks who work for me.

    10. Ranger Rick January 2nd, 2007 4:01 pm

      Russell… you are so funny. I think of Lereah as more of a CEO type than “persuasive”…and when I think CEO I think CEO like a tobacco industry CEO. You recall those fine men when they testified before Congress that “Nicotine is not addictive.” Lereah, much like those fine Tobacco CEOs, has a story to tell. The problem is that some people think these industry blow hards are giving them insight into a particular industry… when actually they are just sub ordinary salesmen selling their wares from the back of their van or trench coat. You want constructive comments… then start with telling the truth yourselves……………………………………….

    11. Todd Tarson January 3rd, 2007 6:50 am

      Lereah was the reason my last 2 clients bought a home. The clients seemed to be under some kind of spell. They were chanting Lereah’s name as they were signing docs. I tried to stop them, really I did but Lereah’s power is too much for mortals to overcome.

    12. NYCJoe January 25th, 2007 11:10 am

      This is just getting really funny now. Builder after builder after builder is publicly saying that it’s too early to call the bottom:

      Centex:

      “[Centex CEO Miller] cautioned that the U.S. housing market still has potential for further decline. ‘This housing correction is still unfolding,’ Mr. Eller said. ‘Although we are seeing some encouraging signs in some markets, it’s still too early to call the bottom.‘”

      Meritage Homes:

      “‘Based on our reduced backlog and order trends in the last few quarters, we expect 2007 will be a difficult year,‘ Meritage CEO Hilton said in a statement.”

      Beazer Homes:

      ‘At this point, we have yet to see any meaningful evidence of a sustainable recovery in the housing market,’ said Ian McCarthy, Beazer’s CEO.

      But don’t worry, because Good old Davey says we’ve hit bottom (again):

      “With fingers and toes crossed, it appears that we have hit bottom in the existing home market,” [Lereah] said.

      How is it possible that all these publicly traded builders (you know, the people who actually build and sell the houses) aren’t able to see the bottom yet, but Lereah is perfectly comfortable to call the bottom whenever the sun rises?

      This guy just continues to erode the credibility of the NAR, and nobody in your industry seems to care. If this kind of thing happened in my line of work (and it did, back in 2000-2003), everybody would be calling bullshit on any industry talking head that did this. Where’s the outrage?

    13. NVmike January 25th, 2007 12:26 pm

      We’ve hit bottoms 3 times just since May! Watching Lereah call “bottoms” is like watching Homer Simpson bouncing down a staircase: D’Oh! D’Oh! D’Oh!

      Looks like we’ve hit another bottom:

      Existing Home Sales Plummet in 2006

      “David Lereah, chief economist for the Realtors, said that even with the December setback, he still believes that sales of existing homes have hit bottom and will start to gradually improve.”