Yup, this pretty much nailed it - the peak, the tippy-top, of the Late Great Housing Ponzi Scheme.
I've got to give it to the corrupt David Lereah, he of the "we've been predicting a correction for some time" fame.
Yup, he put his housing bubble cheerleading into overdrive at the exact time the housing bubble popped.
Nice job David! I especially liked the slide calling bubble truth-tellers "Chicken Littles".
Good god folks why does the MSM still quote this fraud?
October 02, 2006
Well, here's the smoking gun. August 2005 NAR PowerPoint presentation - "Why a Bubble is Not a Bubble" and Chicken Littles
Subscribe to:
Post Comments (Atom)
3 comments:
Ever consider they eat all this stuff up because it's easy? Otherwise, they'd have to do some actual research themselves, and they would have nobody else to blame if they got it wrong...
Is there a similar report for Aug 06? Low supply and little overstretching? Such a funny read! Leareh is the real optimist
Please visit this site and vote for "Housing Bust will lead to second depression in 2007"
http://www.twocrowds.com/popular.php
This is a social mood predictor site. Maybe if enough people vote for this one, we can get some attention.
Post a Comment