August 28, 2006
Here you go - my favorite NAR / David Lereah honesty-is-the-best-policy slides
Posted by blogger at 8/28/2006
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A time capsule of the greatest financial mania in the history of mankind, told in real-time by regular folks and patriots. May future generations better understand the madness of crowds, and how power and money corrupt.
Posted by blogger at 8/28/2006
17 comments:
picture is worth a 1000 words (or 1,000,000 realtor layoffs)
I've seen charts of something falling off of a cliff, then I've seen charts (now) of something REALLY falling off a cliff
This was kind of funny...
http://www.youtube.com/watch?v=lPnA1cnewLA&NR
According to this chart, in July housing was up 17% over the prices of one year ago and in the past few months it has dropped back to where it was one year ago. This looks like BS to me. I have trouble believing that last month housing was up so big for the year. From where I stand housing prices havent moved an inch all year, at least not in my area. I know this because the same houses are on the market asking the same price.
I see similar charts when ever I go to Zillow.com. My theory is that the data is sparse because houses arent selling all that much these days.
These housing value trends only factor in the average selling price of houses. To truly appreciate the health of the housing market you must look at what's NOT selling too. You don't know what a house is worth until the sale is made, and if the house isnt selling you can't know what its worth, you can only know that its not worth the asking price.
GREAT POST!
David
Bubble Meter Blog
utah still hot
love the income / home price de-linking. that says it all
they are making the case for us!
hehe
I know this because the same houses are on the market asking the same price.
asking prices and selling prices are two different things.
hell still hot
http://tinyurl.com/o4sxj
US housing slump fuels crash fears :
There goes those Jobs we talked about.
Soooooo, why didn't he make these slides in 2004 or 2005?????
Hmmm???
I wonder if he put them in his books???!!!
He may be susceptible to a Blodgett suit, publicly praising an asset (dot bomb/RE) while dissing it to his professional colleagues.
Its all the same scam, be it stocks, land schemes, or residential house markets:
PUMP AND DUMP, AND LEAVE THE BAG WITH THE CHUMP...
NAR IS NOTHING BUT A BOILER ROOM OPERATION WITH BETTER PR.
I've never been quite sure how to pronounce "Lereah".
Would someone please spell it phonetically.
Thanks!
"LI-ar" is how you say it I believe
So It's Canadian --- Liar -Eah?
"I've never been quite sure how to pronounce "Lereah"."
According to some web articles, it is pronounced le-RAY.
http://www.sptimes.com/2003/11/15/news_pf/Homes/Second_best_year_for_.shtml
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