You thought HP was a bit harsh on the corrupt David Lereah. Oh, man, you're gonna enjoy this one...
After bottoming in the fourth quarter of 2006, existing-home sales are forecast to gradually rise through 2007 and into 2008, while new-home sales should turnaround by summer, according to the latest forecast by the National Association of Realtors.
That's the drug-addled ravings most recently unveiled by the tripheads at the National Association of Realtors. At a recent rave, David Lereah was heard to say: "Dude, look at the trails - and the colors! Awesome!" He then giggled and wandered off, muttering to himself about New Home cancellation rates.
The rest of the NAR release amounted to a thinly veiled cry for help, revealing deep problems with either alcohol abuse or dementia.
In a related development, several NAR economists were treated for blunt head trauma, a medical condition which helps explain the rest of their recent public statements.
January 13, 2007
Hilarious column on the hallucinating and corrupt David Lereah
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10 comments:
The lights! They're so pretty!
in your dreams and keep on dreamin.
Sometimes you must get the feeling that these housing heads smoke peyote to come up with their unjustified projections.
But David Lereah is always telling the truth and he never inhaled.
Dr. Housing Bubble - How I Learned to Love SoCal and Forget the Housing Bubble
I should have listened to NAR. Now I am priced out forever. I can't even get a stated-income liar's loan to buy a single-wide.
Even that guy in the Colorado prison got $2 million of loans to buy 5 houses in Boulder. The homeless schizo guy got loans to buy 12 houses in Tampa. We bitter renters can't even get a loan to buy a run down condo. We are such losers.
Don't fight the Fed:
http://tinyurl.com/kh74j
Look at the facts, financing of every kind is easier and more readily available than ever. That means no widespread HP in 2007.
Yes, yes, I know, what they are doing is wrong in so many ways and someday it will end badly, but not anytime soon. House prices and stock prices are headed higher.
It's a new paradigm, and everybody who doesn't buy, now, will be priced out forever. Anybody who does buy will be rewarded with a lifetime of riches, as their property will continue its 30% yearly price increase.
Renters, and anybody born in a future generation, will not be able to afford a $10,000,000 starter home in 15 years. They will live in tent cities, and Hondas.
This asset bubble is different than all of the others - it will never slow down, or pop. The gains are permanent.
-RE.Agent
hey bubble butts (my new name for all you dreamers out there)
The market is heating up in LA I Think the slow times are over.
I will be listing my 2 inVestment homes in april . I will be getting more for them then I would have in 2005. There are only 4 homes in my immediate area ranging from 2.9 mil to 5.8 mil we are still getting anywhere from $700 per sqft to $900
in my area (Hancock Park in LA)
when I bought in 2003 I paid about $400 per sqft I put in about 750k into renovating both. I am into them for a total of 4.95 mil
can put the homes on the market today and get 3.75mil for each easy.
But I promise you in april each house will bring over 4mil with multiple offers.
Sorry bubble butts
no matter how you feel about Lereah
I think he is right
As long as effective interest rates remain negative, we will have people buying houses above their true market value. For someone buying a $1M house today, they are essentially getting a $3K subsidy every month because the Bank of Japan thinks exports are more important to the Japanese economy than rational monetary policy.
Now all you HP doomsayers I know what you're thinking. "Does this happy situation last one month or for five more years?" Well, to tell you the truth, in all this excitement I kind of lost track myself. But seeing as the Bank of Japan and the Bank of China need to maintain export economies and the Olympics are coming to Beijing in '08, you've got to ask yourself a question: Do you feel lucky? Well, do ya, punks?
heh heh Beavis he said but heh heh heh
anon 8:07:53
Why don't you admit that you're just some chump that bought more house than he can afford, probably last year maybe 05. You are in way over your head so you come to HP to vent and pretend that you're some high-rollin flipper on your way to making a killing. I'm sorry that neg-am suicide loan did'nt work out for you, but there's nobody that believes you,so don;t waste your time
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