OK, now it's gettin' fun!
The soon-to-be-unemployed folks at Realogy, owner of Century 21, Coldwell Banker and ERA realtor groups, are placing full page ads (starting last Friday in USAToday) announcing that the housing crash is over and it's time to get back in.
Oh, man, this is too good to be true... The ad was then written about by real estate poodle Marlow Harris (owner of "Seattle Dream Homes") who writes real estate pornography for the REIC-advertising dominated Seattle Post Intelligencer. You can flame her here (the comments are hilarious!)
Here's some highlights:
Realogy's desperate CEO said: Although the media has focused on the downside of the changing real estate market, there are also compelling messages about real estate that we need to reinforce to consumers,” such as the recent drop in mortgage rates.
Perriello explained that, “The unfortunate reality here is that good news seems to get buried in the newspapers and it's the negative headlines that get all the attention. What we're trying to do [with the ad] is motivate buyers with the facts. Mortgage interest rates have come down, there's an ample supply of inventory and homes are selling.”
"Give consumers facts and figures in order to send them the message that houses are selling.”
And then concluding with:
“Now is not the time to be quiet,” Perriello added. “Now is the time to be noisy.”
OK, I'll bite. Here's noisy for you:
THE LATE GREAT HOUSING BUBBLE WAS AN EPIC PONZI SCHEME, WHERE PRICES DETACHED FROM THE FUNDAMENTALS AND THEIR HISTORICAL AVERAGES. IT WAS FUELED BY AN OUT OF CONTROL AND CORRUPT REIC, INTENT ON EARNING COMMISSIONS AND SCREWING HOMEDEBTORS.
EVERY PIECE OF DATA NOW CONFIRMS THAT THE BUBBLE HAS BURST, AN EPIC CRASH IS UNDERWAY, AND HOUSING PRICES WILL NOW DROP BACK TO WHERE THE FUNDAMENTALS MAKE SENSE AGAIN
Hope that helps.
October 10, 2006
Posted by blogger at 10/10/2006