Get the congressional hearing room ready: Lies, lies, and more lies

Liar, liar, pants on fire. Let the MSM bashing of its sources begin (realtors, the NAR, etc).

From Motley Fool May 5:

Allow me to offer a new twist on an old gag.

Question: "How can you tell when a home-selling industry insider is lying?"
Answer: "His lips are moving."

Now, now. I'm not talking about specific agents here (although if you want to hear the one about the agent who tried to sell us a townhouse with a collapsing foundation for a mere half million bucks, let me know).

No, I'm talking about the housing industry as a whole, in the general sense. You know all those Sunny Jims who refused to see a single cloud in the sky. Remember the good old days? All those National Association of Realtors (NAR) releases that claimed there was no bubble? How about all those mortgage-industry mouthpieces who helped drive up home prices over the past few years to the constant drumbeat of "Get your foot in the door before it's too late! No need to run the math on that loan to see what happens if interest rates go up! By then your equity increase will take care of it!"

Yeah, we had to tiptoe through this widespread load of manure, even as, all around us, the real story was evident: We endured college grads regaling us with stories of their real-estate "investments," and TV producers glorifying the home fix 'n' flip industry.

Hmmm. The speculators are moving out, and prices are falling as supply increases. Doesn't that sound like exactly the thing all those people said wasn't happening? Wouldn't happen?