HA HA HA HA HA HA HA
Oh, man, this is hilarious.
The corrupt David Lereah just predicted the housing market has "hit bottom". Maybe for realtors (the six percenters), who are only interested in transaction volume and their commissions, and not pricing, but for the other 99% of people who only care about pricing, we're a looooooooooooooooooonnnnng way from bottom.
The corrupt Lereah says this:
``We've been anticipating a price correction and now it's here,'' Lereah said. ``The price drop has stopped the bleeding for housing sales. We think the housing market has now hit bottom.''
And the corrupt NAR President Stevens says this:
NAR President Thomas M. Stevens from Vienna, Va., said sellers need to price to current market conditions if they want to sell within a reasonable amount of time. “In some areas home sellers are not making sufficient adjustments in their listing price, so their homes are staying on the market and contributing to the build up in inventory”
While a real economist says this:
``The housing bubble has burst and housing is in full retreat,'' said Steven Wood, president of Insight Economics LLC in Danville, California. ``What was a sellers' market has become a buyers' market. The housing correction still has a long way to run.''
So who do you believe HP'ers? It goes without asking.
HA HA HA HA HA HA HA HA
September 25, 2006
FLASH: Used home sales fall again, bogus price number shows first year-over-year price decline since 1995, Lereah predicts market has hit bottom
Posted by blogger at 9/25/2006