October 25, 2006

Are realtors clueless and brainwashed cult members, lining up at the kool-aid line?


Either they're truly braindead clueless ignorant fools (which would make sense given their lack of education beyond GED's), or they know exactly what's going on and just put on a happy face when they all get together or talk to the media.

So which is it?

About 12,000 Realtors gathered in Long Beach for three days last week to hear the fate of the market at the California Realtor Expo 2006 at the convention center.

A housing report delivered at the conference on Wednesday forecast the median home price to fall slightly for the first time in 10 years.

But most Realtors spoken with at the conference viewed the market with optimism, as did those who compiled the numbers.

In fact, it was hard to find anyone at the conference who was down on housing, including three of the state's top housing experts, who spoke at the conference on Thursday at a panel discussion titled "Twists and Turns: Leading Economists Sound off on Today's Market."

"In my mind it's not a disaster in the making, it's just a normal balancing of the market," Karevoll said.

"You have a lot of media wanting to put a negative spin on the numbers," Kyser said.

20 comments:

"Hunter" said...

My vote is for "truly clueless braindead fools". I have worked with a lot of the REIC and have found only one that thought the market was going down. Of course he blamed it on the media. That damn media!!!

Great quote I found:
"It is hard to get a man to understand something when his salary depends on him not understanding it." - Upton Sinclair

Bubba2Friday said...

Now if we could just get Al Qaeda to squander their resources on exotic mortgages...

Bubba2Friday said...

Hey, soon there will be a lot of REIC folks out wandering the streets a la George A. Romero's "Night of the Living Dead", only this time they'll be craving the assets of qualifiable buyers instead of their brains... oh, wait maybe that organs' what kept the 'minority' from joining the crowd of those who didn't want to "get priced out forever!"

David in JAX said...

Drinking the Kool-aid stirred up by the NAR.

I believe most realtors believe what the upper ups tell them to believe. I have had real estate agent after real estate agent tell me that prices will shoot right back up after The Fed cuts rates again right after the election or beginning of 2007. If you tell them that rates will probably go up they will say that the NAR said they would go down.

keith said...

funny that realtors have no understanding that the fed doesn't set the mortgage rates, which can go the complete opposite direction of the fed funds rate

but then again, they're idiots

FlyingMonkeyWarrior said...

What happened to the Stock Brokers on Black Monday? Did a large percentage leave the industry? There are still many,

I think the EE cult members will still sell, and help buy and sell. They will just make money on what is left of the ravage they helped create. They will make money on the desperate all the way down, once they figure out that it is going down.

Unless they know, and refuse to
admit it in public. Marketing.

Do I give them to much credit?

Anonymous said...

sidetracking a bit:

"Either they're truly braindead clueless ignorant fools (which would make sense given their lack of education beyond GED's)"

I don't disagree that there are many dumbass realtors. To say, even hyperbolically, that those with GED's or who lack college/university educations are braindead or clueless is wrong, though. How many college educated
people today are truly well- educated? I work at a college, and trust me, the biggest dopes are among the faculty. The decently educated are usually discipline- specialized and have no breadth of experience in other areas. There are numerous affirmative action hires who are just barely literate (one is Dean of English, whose writing skills are 8th grade public school, at best, though he holds a doctorate -Ed.D, what a joke- from a black university. There are brighter, more well-rounded guys working maintenance, they're just not discussing Proust. The smart, though uneducated guys who fix our cars, phone lines, run power plants, etc., contribute far more than the sham "educators" who are dumbing-down our nation.

Anyway, real estate is hardly rocket science, and I'd say the problem is more a lack of ethics than education.

SeattleMoose said...

I always get a kick out of the term "professional" applied to someone whose biggest attributes are:

1) Big teeth
2) Floppy hat
3) Fancy car
4) Good looks
5) Self taught "used car salesman" air
6) Membership to "professional" organization (NAR)
7) Lying thru their teeth while appearing like they care
8) Ability to convince themselves they are "helping" people after selling a home to a family who cannot afford it and who ultimately go bankrupt after being "helped"
9) Fill in the same form over and over again
10) The intellect to pass the NAR "bar exam" after that rigorous 4 week course...

Yep, these folks are definitely worthy of the term "professional". Forget the fact they did not go to college to earn it. They just are.....

Paul E. Math said...

Regarding the anonymous side-track, I would agree that we should not equate college graduation (or lack thereof) with any level of intelligence. Sorry if I'm thread-jacking a bit here but it's always bothered me that we evaluate the quality of a highschool based on how many of it's graduates go on to college. It gives no respect for those hard-working, intelligent people who are pragmatic and independent enough to realize that becoming trained as a machinist or electrician or whatever will be far more productive to society and personally lucrative than getting your degree in social work. Anyway, we shouldn't equate college graduation with any minimum level of intelligence of wisdom.

That being said, real estate agents are morons whether they have a college degree or not. They're drinking the kool-aid and, like that Upton Sinclair quote, it is in their personal interest to keep drinking it. Seeing reality would require them to change their whole lives. It's much easier to grab another glass and chug-a-lug.

It's guys like Lereah who should be condemned. Realtors are trusting their leadership who have given them false and misleading information at every turn. The health and stability of realtors' careers (and the housing market) was damaged by cheeleaders like Lereah. The NAR chief economist should have recognized, as many of us did, when housing prices became detached from fundamental value. When Lereah should have been issuing a warning about excessive prices he was pouring gas on the fire by publishing that P.O.S. book of his.

My conclusion, those at the bottom of the REIC food-chain are stupid, not evil. But the higher up the food-chain you go, the further the needle slides away from stupid and closer to evil.

Anonymous said...

What did George Costanza say, something like, "Jerry, remember, it's not a lie if you can convince yourself it's the truth."

Realtors(tm) have done nothing but convince themselves that their own truth is real- much like the rest of our country.

Gary Anderson said...

The Fannie Mae ceo has said it is impossible to determine the impact on the economy of arm resets. If he can't guage this, how can a ged realtor get it right?

panicearly said...

some greedy liars
the rest brainwashed greedy lying idiots.

“‘The worst is behind us as far as a market correction — this is likely the trough for sales,’ said David Lereah, the Realtors’ chief economist. ‘When consumers recognize that home sales are stabilizing, we’ll see the buyers who’ve been on the sidelines get back into the market.’”



Will he just keep saying like the above quote over and over all the way down?
Or will he shut up and go into hidding and disappear?

Anonymous said...

Kool-Aid gets a bum rap...after all, you do realize it was Flavor-Aid that was laced with cyanide at Jonestown. Then again, maybe we should have little sympathy for Kool-Aid Man, a man who thinks its funny to randomly burst through walls, causing severe emotional distress to innocent people and thousands of dollars in property damage.

Anonymous said...

Kool-Aid gets a bum rap...after all, you do realize it was Flavor-Aid that was laced with cyanide at Jonestown.
+++++++++++++
Hmm....Learn something new every day....

Shakster said...

Of course they will say everything is just fine.If you consider it painful when your finger gets smashed in a car door,then you have a bad attitude mister.

foxwoodlief said...

I can say the same here, that most HP bloggers are brainwashed cult members lining up for their cool-aid of doom and gloom of a housing crash and depression.

Fear. That is what cultists use to control and brainwash their followers. Fear of a house crash is what drives a lot of HPers. No different that fundamentalists of any persuasion.

Everyone interprets the signs differently. Christians see every earthquake, every hurricane, every war, every drought as evidence of the end of the world and the second coming of Christ. Do you remember how we were suppose to be under big brother and world government by 1982? Jesus was to return by 1988 (forty years after Israel was founded)? We were to have the population bomb and mass starvation before the end of the 20th century? The Y2K meltdown with nuclear power stations exploding, planes falling out of the sky etc? How many predictions of a 20,000 dow or for that mater a 3,000 dow?

Get a grip. All economies are cyclical, as are investments, as are years of drought, good crops, bad crops, and the world goes on. Get some balance. If you hate paying $500,000 for a small condo in San Diego, move! You can find a nice house in St Louis, Dallas, Birmingham, Nashville, Louisville, Columbus, Galveston, Houston, at non-bubblicious prices. It's almost as if you are all a bunch of vultures waiting for Grandma to die so you can have her house she paid $5,000 for in 1940.

Anonymous said...

I can say the same here, that most HP bloggers are brainwashed cult members lining up for their cool-aid of doom and gloom of a housing crash and depression.

Fear. That is what cultists use to control and brainwash their followers. Fear of a house crash is what drives a lot of HPers. No different that fundamentalists of any persuasion.

Everyone interprets the signs differently. Christians see every earthquake, every hurricane, every war, every drought as evidence of the end of the world and the second coming of Christ. Do you remember how we were suppose to be under big brother and world government by 1982? Jesus was to return by 1988 (forty years after Israel was founded)? We were to have the population bomb and mass starvation before the end of the 20th century? The Y2K meltdown with nuclear power stations exploding, planes falling out of the sky etc? How many predictions of a 20,000 dow or for that mater a 3,000 dow?

Get a grip. All economies are cyclical, as are investments, as are years of drought, good crops, bad crops, and the world goes on. Get some balance. If you hate paying $500,000 for a small condo in San Diego, move! You can find a nice house in St Louis, Dallas, Birmingham, Nashville, Louisville, Columbus, Galveston, Houston, at non-bubbl

Anonymous said...

Are they Cult members, lining up to drink the Kool-aid?

One can only hope!

Anonymous said...

anon 7:12...
No better words for you..You are such a TOOL!! It's so sad. It amazes me with all the facts, graphs and hard statistics out there you still claim people are overreacting.
Jesus, you must be a total stupid a-hole or up to your eyeballs in Helocs, H2s and granite countertops, all financed on the 50 year interest only Option ARM. You moron.

secondcitysoldier said...

now I'm thirsty