FLASH: Nicholas Retsinas, HP hater and discredited head of the corrupted Harvard Joint Center for Housing Studies, comes clean. Kinda.

HP'ers are familiar with the laughable and discredited Retsinas, and his list of REIC puppetmasters.

You may also remember being called "pollyannas" and "chicken littles" as Retsinas belittled HP'ers and anyone who challenged his REIC masters and their housing cheerleading during the bubble. From September 2006, this direct attack on HP'ers (remember we had called for his firing) from Retsinas:

The headline hints of catastrophe: a dot-com repeat, a bubble bursting, an economic apocalypse. Cassandra, though, can stop wailing: the expected price corrections mark a slowing in the rate of increase - not a precipitous decline.

This will not spark a chain reaction that will devastate homeowners, builders and communities. Contradicting another gloomy seer, Chicken Little, the sky is not falling.

Well, even a discredited REIC hack has to come clean at one point, after the data shout "you're a fool". So here's Retsinas now:

"The air went out of the inflated housing market as higher home prices and interest rates finally tempered demand," center Director Nicolas Retsinas said. "Many buyers are now waiting on the sidelines hoping prices will fall."

"We're going to be in for a prolonged slump," said Nicolas Retsinas, director of the center.

Hmmm... I guess Chicken Little was right. Or maybe Retsinas' over-extended REIC masters didn't pay their annual dues this year... Whatever the case, Retsinas and his bogus JCHS are a stain on the good reputation of Harvard. The REIC has bought our Congress, it's a real shame when they can buy our higher learning institutions.

HP renews it's call for Harvard to fire Retsinas immediately, and to no longer accept REIC bribes.

Retsinas - you can leave your apology to HP'ers here. It's too late to apologize to America though. They're screwed.