{"id":1775,"date":"2007-08-08T08:28:18","date_gmt":"2007-08-08T15:28:18","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=1775"},"modified":"2007-08-08T08:41:37","modified_gmt":"2007-08-08T15:41:37","slug":"the-national-association-of-realtors-is-simply-outrageous","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1775\/the-national-association-of-realtors-is-simply-outrageous\/","title":{"rendered":"The National Association of Realtors is Simply Outrageous"},"content":{"rendered":"<p>This title truly comes from the heart.  Reading the Wall Street Journal today, I stumbled across <a href=\"http:\/\/online.wsj.com\/article\/SB118658131875191705.html?mod=hps_us_whats_news\">the latest report from the lead economist at the National Association of Realtors<\/a>.  In the face of overwhelming negative information and despite their own lowered forecasts, Mr. Lawrence Yun states,<\/p>\n<blockquote><p>Existing-home sales should be relatively stable over the next few months, holding in a modest range, with some pent-up demand growing from buyers who&#8217;ve been on the sidelines.&#8221; He continues on to say, &#8220;A modest upturn is projected for existing-home sales toward the end of the year, with broader improvement to include the new-home market by the middle of 2008<\/p><\/blockquote>\n<p>Perhaps he considers the third time he tries to shovel this to the markets will be the charm.  I am not sure what it takes to be an economist, let alone head of economic research at the National Association of Realtors, but the first interview question must be &#8220;Do you have a pair of unbreakable, impenetrable, gigantic Rose Colored glasses?&#8221;<\/p>\n<p>Before I move forward, I want to say that I understand that there are many different economic philosophies out there.  From Regan&#8217;s supply side economics to our own Jeff Brown&#8217;s interesting economic theories, there can be many ways to interpret various economic indicators.  Instead of spouting my own point of view, I will layout simple economic trends and let you the reader be the judge of where you think the market will go.<\/p>\n<p>The Current Market Climate:<\/p>\n<ul>\n<li>The Subprime mortgage market has been shut down, shutting out at least 10% (probably more) of the buying market<\/li>\n<li>Alt-A (Loans below prime, but above subprime) mortgages have taken a huge hit, shutting out another indeterminate amount of buyers (~2-5%)<\/li>\n<li>Fed chose to hold interest rates steady, resulting in higher expected mortgage rates<\/li>\n<li>Adjustable rate mortgage resets hit many consumers in their wallet very hard<\/li>\n<li>Time on the market has increased significantly for most markets and overall<\/li>\n<li>Defaults have been climbing and have showed no signs of slowing.  Additionally, defaults significantly lower market values, resulting in lower selling prices<\/li>\n<li>Leverage finance troubles in the broader economy will have an effect on real estate <a href=\"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1775\/the-national-association-of-realtors-is-simply-outrageous\/#more-1775\" class=\"more-link\">Read more<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>This title truly comes from the heart. Reading the Wall Street Journal today, I stumbled across the latest report from the lead economist at the National Association of Realtors. In the face of overwhelming negative information and despite their own lowered forecasts, Mr. Lawrence Yun states, Existing-home sales should be relatively stable over the next [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-1775","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-real-estate","8":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1310,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1310\/open-letter-to-minneapolis-area-association-of-realtors-regards-rmls-ruling-13\/","url_meta":{"origin":1775,"position":0},"title":"Open Letter to Minneapolis Area Association of Realtors Regards RMLS Ruling 13","author":"Russell Shaw","date":"April 16, 2007","format":false,"excerpt":"The following was sent to me by Steve Westmark. He was the very first agent interviewed by Howard Brinton for what is now known as Starpower. He is a very nice man, who spends a great deal of his time (and money) working for Habitat For Humanity. He and the\u2026","rel":"","context":"In &quot;Disintermediation&quot;","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":769,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/769\/anonymous-posters-who-hate-lereah\/","url_meta":{"origin":1775,"position":1},"title":"Anonymous Posters Who Hate Lereah","author":"Russell Shaw","date":"December 14, 2006","format":false,"excerpt":"\"name\" wrote: Lereah not only lies, he either knows or should have known he is lying, which means that if he is unaware that he is pathologically lying then he belongs in a psychiatric unit. Point made. I'll have him committed. ___ \"David\" wrote: Lereah is a paid shill of\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":829,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/829\/lereah-pushes-it-even-further\/","url_meta":{"origin":1775,"position":2},"title":"LEREAH PUSHES IT EVEN FURTHER","author":"Russell Shaw","date":"December 31, 2006","format":false,"excerpt":"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\". United States citizens not wanting to purchase a home have been powerless to resist Mr. Lereah's announcements that\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"Lereah persuasive","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2006\/12\/Lereah%20persuasive.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":802,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/802\/the-harm-that-david-lereah-does\/","url_meta":{"origin":1775,"position":3},"title":"The Harm That David Lereah Does","author":"Russell Shaw","date":"December 23, 2006","format":false,"excerpt":"Any intelligent fool can make things bigger, more complex, and more violent. It takes a touch of genius, and a lot of courage, to move in the opposite direction. -- Albert Einstein Mike wrote: If you don't have a sense of humor, you probably don't have any sense at all.\u2026","rel":"","context":"In &quot;General&quot;","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"dog pissing on snowman","src":"https:\/\/i0.wp.com\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-content\/uploads\/2006\/12\/dog%20pissing%20on%20snowman.gif?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":1880,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1880\/the-very-best-alternative-to-the-national-association-of-realtors\/","url_meta":{"origin":1775,"position":4},"title":"The &#8220;Very Best&#8221; Alternative to the National Association of Realtors","author":"Cooksquared","date":"September 2, 2007","format":false,"excerpt":"There has been a lot of talk about how to fix the National Association of Realtors or even how to supplant the organization completely.\u00a0 As an outsider looking in, I have one simply question:\u00a0 Why are realtors paying good money to an organization that they hate?\u00a0 As an investor I\u2026","rel":"","context":"In &quot;Marketing&quot;","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":14584,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/14584\/how-does-the-national-association-of-realtors-love-me-they-sent-me-an-evaluation-so-i-could-count-the-ways\/","url_meta":{"origin":1775,"position":5},"title":"How does the National Association of Realtors love me? They sent me an evaluation so I could count the ways.","author":"Greg Swann","date":"May 10, 2011","format":false,"excerpt":"I appeared by videoconference at the National Association of Realtors Association Executives convention in March. At the time, I made note of my remarks in a comment to Teri Lussier's first post on the NAR's latest anti-consumer money-grab:I spoke by videoconference to the NAR Association Executives conclave on Monday. I\u2026","rel":"","context":"In &quot;Disintermediation&quot;","block_context":{"text":"Disintermediation","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/disintermediation\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=1775"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/1775\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=1775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=1775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=1775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}