April 30, 2007

The Corrupt David Lereah (finally) gets the boot from the NAR. Good f*cking riddance!


Hey, MOVE's stock is only down 95% from the peak. How much damage can a completely discredited carnival barker do? Want a tip? Short MOVE...

Here's a special HousingPANIC going away message for our old friend, The Corrupt David Lereah (please feel free to add your own HP'ers):

TCDL, we'll sure miss you around here. Yes, you may have been doing the bidding of your evil masters at the NAR these past few years with your lies, deception and spin. And yes, you may have blood on your hands, someone who'll go down in history as enriching himself at the expense of others.

But it sure was one heck of a ride.

Bon Voyage TCDL. And good fu*king riddance.

Economist Lereah to leave Realtors for Move Inc.
David Lereah, chief economist of the National Association of Realtors, is leaving NAR to join Move Inc. as chairman and partner of a new business entity next month, NAR said Monday.

Lereah has directed NAR's research division, regulatory and industry relations division and other activities. He will leave the association in mid-May, NAR said.

As chief economist and senior vice president, Lereah is the NAR's spokesman on the U.S. economy and the housing and real estate markets.

California based Move Inc. provides homebuyers and renters with information about real estate and communities before, during and after moves, according to its Web site. Move Inc. operates NAR's Web site, Realtor.com.

Neither NAR nor Move Inc. offered details about the new entity, but a Move Inc. spokeswoman said more information would be forthcoming in the third quarter. The entity is "expected to be transformational for both consumers and real estate professionals," according to a Move Inc. news release.

35 comments:

Anonymous said...

This is the definition of OVERDUE. Too bad someone else still thinks this liar has credibility. But I guess they (MOVE) are a bit biased too.

Anonymous said...

so much for the captain going down with the ship.

FB's of the World Unite said...

Keith, your April 1 artcile on Lereah was prescient. Quick, tell us if Elvis is still alive!

Anonymous said...

Hmmmm... first Greenspan jumps ship last year and now DL - I guess they figured they'd run away and hide instead of being sitting ducks.

anonymous wimp said...

Is it too late for me to get my money back on his books that I bought?

mrs appleton said...

It's about dam time they sh@t canned this moron.Not much more damage he can do at move.com, there already in the tank.I'm surprised anyone would hire him.He will not take my job cause I rule california and carry a big stick.

Adam Smith said...

That's a hilarious picture, Keith, with "Baghdad Dave" trying to calm the citizens on camera when viewers can clearly see neutron bomb mortgages falling in the background!

Wasn't the resignation of David Liarrhea one of the (7) signs of the end of the times, signaling the onset of the Great Housing Unwinding?

keith said...

I feel sorry for David at davidlereahwatch

They'll hire someone to fill TCDL's shoes, and davidlereahwatch should turn into fillinthenewguysnamewatch

The senate hearings will have TCDL in for a chat. That'll be the next time we hear from his sorry ass I think

David said...

David Lereah Watch has some departing thoughts.

Anonymous said...

“‘We expected the drop in investment sales because speculators left the market in 2006, which caused investment sales to fall much faster than the primary market,’ David Lereah, the association’s chief economist, said in a news release.”

David said...

"I feel sorry for David at davidlereahwatch"

I am happy to not blog about his disinformation, half truths and destructive cheerleading. :-)

"They'll hire someone to fill TCDL's shoes, and davidlereahwatch should turn into fillinthenewguysnamewatch"

Nah! The blog will stay online, but be inactive unless Mr. Lereah goes back to talking about RE.

Great job Keith, on helping me expose Mr. Lereah. You are a true ally! :-)

David
David Lereah Watch

fish said...

What an unmitigated suckhole! Its okay though they'll still know where to find him when its time for the congressional hearings! (if he had a brain in his pretty little head he'd flee the country!)

RAYNLA said...

Keith,

I thought companies did background checks on new hires.

LOL

GT said...

keith for chief economist at NAR!

Anonymous said...

David Lereah, senior vice president and chief economist of the National Association of Realtors(R) for the past seven years, is joining Move Inc. as executive vice president of a new business entity, effective in mid-May.

Move Inc. operates NAR's official Web site, http://www.realtor.com/ and http://www.move.com/.


Not missing a beat, NAR's executive vice president and CEO, Dale Stinton, announced that:



"David is an expert on real estate and the economy, and his stature and expertise
enhanced NAR's position as the most credible source on economic and policy issues affecting the housing industry in the United States and abroad. We wish him the greatest success in his new endeavor."
Within a few weeks, David Lereah will no longer be working at the National Association of Realtors. Mr. Lereah has lost credibility during the past few years, as he cheered the housing bubble and then called a 'bottom' at least four times. Was he forced to leave because he lost credibility?

Soon, Mr. Lereah will be much less quoted in the mainstream press. Mr. Learah's reign of half truths, manipulations and cheerleading will soon be over.

http://bubblemeter.blogspot.com/2007/04/david-lereah-to-leave-realtors-and-join.html

Out at the peak said...

This is even better than the April Fools joke. It's better because it is real. At first I thought it was a joke again until I saw the news everywhere.

It's like a '24' episode, "You know how this works; heads have to roll."

Anonymous said...

Wait a minute...consider this excerpt from a Washington Post article last week:

"Lereah said that he originally expected the housing market to recover by this quarter but that he now believes it won't happen until summer. A full recovery, he said, will take place in 2008." (http://www.washingtonpost.com/wp-dyn/content/article/2007/04/24/ AR2007042400627.html)

Wouldn't he want to stick around until 2008, or at least this summer, to receive his kudos when the market rebounds?

Anonymous said...

Greenspan and Lereah are like rats,the first to bale out of the sinking ship otherwise known as the U.S. economy.

RiperDurian said...

Let's all have a moment of silence...

...er I mean a moment of hemming and hawing while we cross our fingers and toes in honor of this weasel eyed lying sack of manure.

p.s. DL Watch, I like the suggestion someone posted on your blog about it transforming into the NAR spokesliar watch or something like that.

twist said...

David-

My best guess is that you'll need to start LawrenceYunWatch.blogspot. Yun is of course Lereah's "Mini-me."

Honest, accurate information on the part of the NAR would diminish the work of bubble bloggers, but that's OK. I think we all went into this hoping to work ourselves out of a job.

I'm not betting any serious money though that this time around the NAR finds someone any better. I think we're in business for awhile.

Anonymous said...

" Remember, There's never been a better time to MOVE!"

Anonymous said...

so much for the captain going down with the ship.

The rats know when to leave a sinking ship.

Mort said...

He can run but he can't hide.

Anonymous said...

Speaking of Mr. Lereah, there's another positive review posted for his book ("All Real Estate is Local") on Amazon.

Anonymous said...

Oh great, he moving to California. This is the world headquarters of lying, cheating, arrogant A-holes.

Let me guess... home office based in S.F.

Well at least we have plenty of available housing.

GK said...

POWER

Does anyone doubt the power of internet blogs for truth after this victory for HousingPanic and DavidLereahWatch?

BRACE FOR GOVERNMENT REGULATION OF THE INTERNET.

The joy you feel right now will come back as 10 times the pain when Net-Neutrality neutralizes truth-based websites and blogs.

chris g said...

Last year I predicted he would leave sometime in the summer of this year. He outperformed even my aggressive expectations by a month or two.

Even I didn't predict him sticking his foot in his mouth this often.

Anonymous said...

Of course there's going to be a lot of people moving. Foreclosure does that.

beebs said...

Elvis and JFK are alive in Cuba.

Anonymous said...

I wonder if his mom cried.

Anonymous said...

This seems to be the worst of times and the best of times. George Bush is still in denial, but the nation (at least the 70% which reads) has finally realized that he and his cohorts (Greenspan, etc) have screwed up the economy and our future. Could he have mismanaged more issues in 6 years? He's been a disaster as president. Seems that many others have joined him in the ranks of the disenfranchised. David Lereah fits the example. A shill of the real estate industry - a con man who will beat the drum for his brethren, despite the damage and pain he causes the rest of us. Bush, Cheney, Lereah, Rumsfeld, Gonzolas, Karl Rove (especially evil!), you pick which one has and is capable of getting his karma even further out of wack!

If I see the NAR's 7 reasons to buy right now one more time - I probably will stroke out. Each real estate agent I talk to seem to be one of the Borg (controlled with simple minded gestalt's put out by the NAR website)

How does a guy like him sleep at night? Lies and manipulation of numbers - all to keep the 6 percenters (at least the 95% of them) taking out their pound of flesh. Actually when you adjust for inflation - 6% is a lot more than a pound of flesh (figuring a 150lb average person).

It's the best of times because as times get bad - people start to get out of their happy, cozy, pre-bubble thinking and start assessing blame at those who have wronged them. Its the worst of times because there are a lot of problems on the horizon... Much of which will be a quagmire for the Democrats to try and deal with.

As Americans, we find it tough to get angry, involved, etc. when things are moving along nicely for the middle class and up. Now that danger is on the horizon, both in war (security) and assets (even more security) - this nation will start separating the leaders of greed from the leaders of good intentions.

At least until the next bubble starts to build!

Impeach Bush/Cheney said...

Regarding: "Oh great, he moving to California. This is the world headquarters of lying, cheating, arrogant A-holes."...


No, Texas is the number one state for that. (Washington DC was not counted, but per capita, DC would beat both Texas and California combined.) Remember when Dumbya said Enron's "Kenney boy" was one of his best long time pals? See any connection here?

Natural Eyebrows said...

This is the bureaucracy taking care of one of it's own. It's like Wolfowitz getting a job at the World Bank.

Cuddlefishcakes said...

One man's trash is another man's treasure. But really, couldn't the folks at MOVE do better? There are legions of underemployed realtwhores out there...can't they find one without baggage?
Oh, right, I guess I answered my own question.

burn baby burn said...

Well all I can say is blame it on the rain.