March 27, 2007
It's all coming apart now for TCDL. Now he's not even making sense.
Man, it's time for a new spin/strategy session over at the ol' NAR, because today's line of BS isn't even making sense. To say existing homedebtors trying to sell will be fine, and new home builders will struggle, is the exact opposite of reality. Everyone (except TCDL) knows the homebuilders will ALWAYS win a selling battle versus the suckers they sold homes to (existing homedebtors) who can't cut prices like the builders can.
Hmmm.... why do "Mugabe" and "Lereah" seem so similar today? Could we see a violent overthrow soon? The 1.3 ramen-eating natives are probably getting a bit restless right about now, don't 'cha think?
David Lereah, the head economist for the National Association of Realtors, said the landscape for the resale market is very different from new-home sales.
“There is a recovery in existing home sales, but for new home builders, the market will be very bumpy going forward,” he said. “New-home sales are still in recession, and increased foreclosures and subprime problems will make the next two years difficult.”