January 30, 2007

David Lereah vs. Peter Schiff video catfight on Neil Cavuto. Meow!!!


Blowhard homedebtors Neil Cavuto and David Lereah team up to take on Peter Schiff on whether there's a housing crash underway.

Peter talks about prices are ridiculously high, bid up in a speculative mania with lax lending standards, how renting is significantly cheaper than buying, and how Lereah and the NAR are acting like the dot-com stock touters in the '90s. He predicts a collapse of 50% to 70%.

The Corrupt David Lereah spouts about how the media is talking about a bust when it's not a bust, and how their $40 million ad campaign is to counter the bubblemeisters. Pleads that people shouldn't compare the real estate bubble to stocks in the '90s.

Hilarious video. Enjoy!

47 comments:

Anonymous said...

Neil Cavuto and Faux News are to objective news broadcasting what Wal-Mart is to quality goods and Olive Garden to gourmet dining.
Mediocre "products" that appeal to the great American unwashed masses like those exemplified by Phoenix residents.
There's a lot of scum out that needs to be fed a daily dose of garbage.

real estate 101 said...

Wow. Peter is bold and probably correct. Look out below in overpriced markets.

Our market is still on par with rents and home sales prices. A average 3/2.5 home of $165k rents for $1200/mo.

If you told me a $1200/mo. rental costs $330k I'd say prices were going to crash too.

Lereah is paid to say what he says. I couldn't do it. I couldn't stand by and watch people be destroyed by my mistatements and lies. Unless Lereah truly believes those statements, then that would make him a dum bass.

John M said...

OK, that really was funny (and we all need a good laugh!)

Anonymous said...

That Cavuto guy always gets on my nerves when I see him - a bigger blowhard you will not find. What did this guy do before getting a talking head job anyway?

michael said...

to say that cavuto "teamed up" with lereah is nuts.

Anonymous said...

david lereah is a homo. a lying homo that is.

Anonymous said...

THAT was good video!!
DL could be code for Desperate Liar!

Signed,
An unwashed scummy Phoenix garbage eater with but one redeeming quality... I don't like Olive Garden but I love Macaroni Grill

PS: Need me to pick up anything for you at WalMart this morning? I hear BBQ Pork Rinds are 8 lbs for a buck!

PS: Phoenix haters are jacka$$es.
It's gonna be 65 degrees here today!

Anonymous said...

Renter 1:24:20PM,

Does your TV have a channel changer option? Use it and keep to watching "objective" news like CNN and CBS.

And don't live in Phoenix, don't shop at Walmart and don't eat at Olive Garden.

But Jesus Christ STFU already with the complaining and whining about it. You sound like a 15 year old girl.

Patch Tuesday said...

How about that David Lereah? Starts off with "all real estate is local," but as soon as he get backed into the corner on the hot market question it becomes "on a national level!"

I Love Broadband over PowerLine said...

That`s a great video from a USED CAR SALESMAN .... NO MATTER HOW OLD IS THE CAR, IT`S STILL A GOOD PRODUCT according to the used car dealer !!!

Want to buy a house now from David Lereah ???

Jip said...

I have to admit that it was a good show. Watching poor Liar Lereah spinning the facts and blaming the media amused me. Seems like EVERYTHING bad is caused by the media...

Yogsoggoth said...

The surest sign that there is a bubble is that Fox says there isn't.

Anonymous said...

I recall Neil opening his show with a closeup shot of the Big Board's close when it broke 11,000. It was a blatant attempt to hype the milestone.

While it's true the Dow has had a nice run over the last 7 months, before it was losing out to inflation over the last few years. Had Cavuto had any integrity & credibility, he would have showed his viewers the Dow's performance over the past few years when valued in gold. This hasn't been pretty, and even the latest Dow run hasn't much affected the discrepency.

Fair & balanced? Only if you want your portfolio to get hosed!

Hard assets said...

Rome is burning and what is "Nero" Lereah saying. " I've got a great condo for sale over by the Colosium! Don't listen to those negative rumors!" That fire is just the plebians burning some trash!"

devestment said...

David learah is correct, my market is expanding, inventory that is.

Anonymous said...

filthy left-wing trash can't stand any opinions outside of their DailyKook website.

Rational people want to hear different opinions and are smart enough to come to their own conclusions. The leftards have very low IQ's and must be spoonfed.

Anonymous said...

Only the dumb liberal scumbags are afraid of that debate. The lefty inbreds aren't capable of debating, so they try to shut it down. A smart person could watch that video and figure out who was right and who was blowing hot air.

Anonymous said...

Bravo to Peter over at Europac!

Anonymous said...

Ahh yes, yet another socialist pseudo-intelectual anti-Walmart, anti-Fox News, anti "chain restaurant" blithering idiot speaks out.

Anonymous said...

Lereah looks like his back is against the wall even in this softball setting.

How about asking if things are so great, why is your assocation blowing such a gigantic wad of cash to temper the bad news?

Fact is, if things were OK, the NAR would ignore the media - it's not the media that's caused this "Contraction", it's that "the props have been removed".

Look out below.

Anonymous said...

Quote from Lereah at the very end of the clip:

"75% of this country is expanding and will have positive price appreciation this year."

What is this asshole thinking - what a fucking liar!

Anonymous said...

There's also alot of liberal scum that needs to be fed from the New York Times and the Clinton News Network and the Baghdad Broadcasting Service.

I can't wait for the jihadis to slit the throats of liberals, feminists, trans-gendered freaks, and environmentalists.

The Muzzies are very good at liquidating all the Eloi of society.

Anonymous said...

To indict Fox news for MSM bubble blowing is like blaming the President for the Katrina aftermath.

tombaschi

Anonymous said...

You mean Bush didn't cause Katrina? Here I was thinking he had a super secret lab where he fired up that baby to kill black people...or so Spike Lee, Kanye West and MSNBC kept telling me.

Anonymous said...

Heh, Schiff sounded like an HPer from the get-go. What was more funny was that even Cavuto was calling Lereah on his BS.

Anonymous said...

Phoenix is one big trailer park populated by people who have no clue who their grandparents are/were or their ethnic origin. That residue of the American melting pot, produces generations of rootless mutts whose only common thread is the mindless consumerism of cheap products, gorging of bad food and endless hours looking at witless TV programming. (ie. Faux News).

Inarticulate and unable to express themselves in verse, some HP posters resort to hurling epithets and poorly crafted insults at others.
Truly indicative of the that nationally spreading phenomenon, known as PLS (Phoenix Loser Syndrome).

poweredchicken said...

peter's right on the money as usual.

btw, he does his own weekly radio show

http://www.europac.net/radioshow.asp

Anonymous said...

Spike Lee and Kenya West are typical DemoCrap trolls

Anonymous said...

It is amazing how every bomb blast and dead American soldier makes every MSM news outlet, but a housing crash in the U.S. isn't good enough.

I would think the MSM would be loving a housing crash for the ratings. If MSM wants ratings just start talking about how hundreds of thousands of people are losing there homes to foreclosure because of fraud and deceit.

Anonymous said...

First the renters were bitter they missed out on the boom. Now the renters are bitter that they aren't cashing in on the mortgage fraud. And soon enough the renters will be bitter that their tax dollars will be used to bail out the industry and millions of home owners that profted.

At the end of the day the bitter reters will still be bitter and will still be renters.

As Nelson would say...HA HA!!

LauraVella said...

Anon said:"I would think the MSM would be loving a housing crash for the ratings. If MSM wants ratings just start talking about how hundreds of thousands of people are losing there homes to foreclosure because of fraud and deceit".

I'm sure it's happening to some of those MSN newscasters too -maybe there is some connection?

Anonymous said...

To: Anon 11:03:31 PM

Youse beez a dummazz fer yer apinyns.

What cultural center of the free world do you reside in that's so profoundly enticing as to afford that comparative attitude of Phoenix?

Duuhhhhm Mut
Trailer # 14D
Phx, AZ

Anonymous said...

Ya now whut, Anon 11:03:31 PM.

I apologize. You are certainly entitled to your opinion.

Duhhhhm Mut

Anonymous said...

Lots of right-wing Bush worshipping wackos posting on this thread. The tells? ... bad spelling, poor sytax,expressions of hate and violence...all indicators of the psychological angst of frustrated white males who are falling behind and are mentally castrated due to events they cannot control.
My advice to all you faggot Keyboard Kommandos:
Turn off the Sean Hannitty Faux News
comedy hour, get your doughy junk food bloated asses down to the recruiting station and join the US military as volunteers for Iraq.
There you can act out your Repugnant
right-wing fantasies, fight for Bush, the corporations and Israel.
Now git...you POSs !

Anonymous said...

Fact>>>
Largest private employer in state of Arizona: Wal-Mart Corp. with greatest concentration in metropolitan Phoenix.
Fact>>>
About half of U.S.Wal-Mart employees have dependents that are Medicaid beneficiaries.
Fact>>>
Wal-Mart profits directly subsidized by US taxpayers thru Medicaid benefits.
Fact>>>
Wal-Mart shoppers, a true reflection of American stupids. Buyers of Chinese crap, processed foodstuffs and corporate welfare stooges.

Anonymous said...

A collpase of 70%? Jezuz H Christ, the NASDAQ didn't even fall 70% you morons.

My oh my renters you are seriously delusional these days.

Anonymous said...

wow sure seems like the same person wets their bed when fox news gets criticized... too bad the hate machine ran out of gas for the midterms...

Anonymous said...

Hey, it wasn't that the hate machine ran out of venom-

rather the hate machine ran out of results!!!

messier11 said...

"Quote from Lereah at the very end of the clip:

"75% of this country is expanding and will have positive price appreciation this year."

What is this asshole thinking - what a fucking liar! "


Technically speaking Lereah is correct. The REIC and MSM use median home price, which rose slightly in many cities.

What Schiff should have said is that the positive price appreciation is coupled with falling sales and rising inventory year over year. The slight gain in median prices in many locales is due to the fact that the homes that are selling now are the more desirable ones, where the sellers are generally getting offers they are comfortable accepting. The less desirable homes where the seller is not happy with the offers are (on average) not selling, and are either staying on the market or being taken off (hence the rising inventory and falling sales volume). Add to that increased incentives, and you have actual falling of prices that is not reflected in the reported numbers.

The decline in median price will follow in due course.

Anonymous said...

yeah...

that venom was run up on credit too!

Davos said...

PS: Phoenix haters are jacka$$es.
It's gonna be 65 degrees here today!

Tuesday, January 30, 2007 3:40:06 PM


WTF are you smoking? It rained all day today.

MadMonkey said...

David "Real Estate is Local" Lereah.

Anonymous said...

"fight for Bush, the corporations and Israel.
Now git...you POSs !

Wednesday, January 31, 2007 2:06:10 AM"

~~~~~~~~~~~~~~~~~~~~~~~~~
... and Israel.

Welcome back, honica.

Duhhhm Mut

chris said...

There's also alot of liberal scum that needs to be fed from the New York Times and the Clinton News Network and the Baghdad Broadcasting Service.

I can't wait for the jihadis to slit the throats of liberals, feminists, trans-gendered freaks, and environmentalists.

The Muzzies are very good at liquidating all the Eloi of society.

Anon 8:22:52; you need to chill Mr Conservative redneck walmart shopping fox news watching, flag waving fool. We fucking get it that you are a CONSERVATIVE Ok you don't need to keep posting that you are it's obvious. Keep the politics out of this blog it's about the housing bubble. Go call Rush Limbaugh and tell him your views because no one cares on this blog.

Anonymous said...

Oops I'm sorry I was looking for a blog on the housing market not a poor man's version of DailyKos. How about sticking to the subject people and leaving the Rush, Walmart, Bush and Fox News bashing for somewhere else?

Well actually never mind. For the socialist renters here I suppose they are are all linked. Walmart, Rush, Bush and Fox all conspired to make their lives pathetic. Rush, Bush, Walmart and Fox kept you from getting an education. Rush, Bush, Walmart and Fox kept you from getting a decent job. Rush, Bush, Walmart and Fox kept you from buying a house in 2000 when it was 40% the price it is today. Rush, Bush, Walmart and Fox are the reasons you will be living in a decrepid 1 bed / 1 bath ghetto apartment for the rest of your lives. Rush, Bush, Walmart and Fox are the reasons your wives left you penniless after the divorce. Rush, Bush, Walmart and Fox are the reasons you are bald. Rush, Bush, Walmart and Fox are the reasons you are obese.

So go on continue hating if you must.

Jip said...

Someone who still uses Lib-Con jingo? How quaint....

As for Wal-Mart, I quit shopping there because of long lines, and their prices no longer are the cheapest. Not to mention the fact that some stores have a nasty habit of taping over boxes that have been torn open in an effort to sell them at full price.

As for the housing market (ESPECIALLY in Cali), the houses are either:

1. Expensive
2. Crap
3. Expensive Crap

Plus, it IS cheaper to rent than to buy when you can't find a condo for less than 300K

Try spinning THAT David Liar!

Chris Sterner said...

Wow...it's amazing that every hate-filled post on this thread is anonymous. Bet you are the same losers that flick someone off in your car, and have a turtle peaking when-much to your dismay-there is a redlight ahead. Anonymous posts should be banned.

One word on the subject at hand: iventory. Watch it closely and you'll do just fine.