Poor realtors (note, no big R after the name - like BloggerR). They think the bad ol media is causing the housing bubble to burst. My solution? DON'T INTERVIEW REALTORS!!!
Like the administration blaming the media last week for not reporting good news in Iraq (as civil war breaks out)
In both cases, what a joke. And they know it.
Here's the Business Week article that the authors got grief for:
Buyer (And Seller) Beware Is housing set to blow, or are there more gains ahead? Here's how to navigate an anxious market
Confused about the direction of the housing market? It's no wonder. You hear stories about sellers slashing listing prices to attract buyers, but home prices nationally have risen more than 10% over the past year. Inventories of unsold homes are on the rise, yet homebuilder Lennar Corp. just reported a 34% jump in earnings. And the much feared rise in 30-year mortgage rates seems to have stalled.
City suburb of Larchmont, N.Y., where prices are off their peaks, confusion reigns. Says Realtor Carol Higgins: "Buyers are complaining that prices are astronomical, but sellers are still thinking they'll get what they saw their neighbors get last year."
April 01, 2006
Realtors blaming media for bursting their bubble. Isn't that precious?
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2 comments:
Lennar's rise in earnings/revenue was due to contracts signed in 2005. The dopes at Businessweek should know better.
I suspect that Lennar owns some rather unconventional, recession-proof housing.
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