June 17, 2007

You wanted it, you got it. Announcing "LawrenceYunWatch" and TCLY

David (from DavidLereahWatch and Bubblemeter) and I have put together Lawrence Yun Watch, a little tribute site to the new hack at the NAR (TCDL who?)

I do kinda feel sorry for the little guy - for all I know he's a nice guy, had a good education, just wants a paycheck. But at the same time, there are honest ways to make a living. Lying, deceiving, manipulating and distorting can't be high on the list of what people want to do with their short time on earth. Right?

Lawrence - if you're listening, it's not too late. Resign immediately, apologize for your lies, and throw the NAR under the bus. It would be a housing bubble seminal moment. You can do good in this life - the choice is yours.

Enjoy the new blog HP'ers. It's 100% Yun, 100% of the time. The more he yaps, the more we'll post. Got any TCLY gems post them here and on the BubbleTalk thread so we can get them up at lawrenceyunwatch. Here's one from last week:

As senior economist Lawrence Yun explained further, "... we see that the existing-home market is stabilizing in a broad cyclical trough and moving in the right direction, with a modest gain from the fourth quarter."


Anonymous said...

these guys, from Yun, to individual reporters who report their story without questioning it, need to be held accountable for disclosing their conficts of interest when giving or publishing their predictions.

(like Sarbanes-Oxley with securities )

"Real estate will go up X% next year, says Mr Yun"
(Mr Yun is paid by NAR and is not an expert in real estate. NAR's purpose is the sell property regardless of market condtions. I, Mr Smith reporter for Blah News, also own investment property in Florida and my own residence)

Sixpercenter said...

Fantastic! Thanks Keith and Dave. This is the first site I check in the morning and the last at night. Now I've got twice the fun!

Anonymous said...

I wonder who they have up next after he quits in shame

David said...


You are very welcome. Fighting the corrupt leaders at the NAR is a specialty of Keith and me. We
are allies!

I hope Yun finds out about the Lawrence Yun Watch blog soon.


Paul E. Math said...

What else do you expect from a corrupt organization representing corrupt used-car salesmen?

In a way it's nice to see the NAR being so consistent. The NAR never wavers or deviates from its consistent pattern of weaseling dishonesty in the attempt at stealing a buck from hard-working American families.

Lawrence Yun, you have really sunk to your new role at the NAR.

Anonymous said...

I'd take his job in a heart beat. That kind of pay? I'd sell my soul to protect my family as opposed to falling behind as a lowly municipal wroking who can't afford the town he works for

Anonymous said...

First, before you honor Lawrence Yun with more attention, do a background check and make sure he really has the credebtials he says he does. There have been a few high profile bullsh*tters through the years, and folks shouldn't get worked up about Yun until he's authenticated.

Kali Expat said...


Americans fear the consequences of a housing bust, but few know what one would really look like...In the 12 months that ended in March, for example, the median price of an existing single-family home in the Sarasota-Bradenton- Venice area of Florida fell by 12.4 percent, according to the National Association of Realtors (NAR). In Louisiana, in the area of New Orleans, Metairie and Kenner, the average price fell by 11 percent. And in the Reno-Sparks area of Nevada, the average decline was 8.8 percent, not far from Mr. Zandi’s threshold. So how far have prices actually fallen? The median price of an existing home has declined 4 percent, on average, since the peak in October 2005, according to the National Association of Realtors. Yet in some areas, by Mr. Zandi’s definition, at least, the market is already experiencing a bust. Over all, Mr. Zandi points out that 40 percent of metropolitan areas around the country are now experiencing declines in housing prices. But if the pessimists are right that there’s more to come, look out. A 10 percent decline in prices is likely to feel pretty awful. And then everyone might agree on what a housing bust is.

LOL, I can't believe how lazy and stupid this NY Times "reporter" is ...

Using numbers from the NAR is like going to the mafia for statistics on crime!

He should go to the HARD sales numbers:

- YTD price drops -

Sarasota-Bradenton - Venice area of Florida -19.7% (not the fluffy -12.4% recorded by the NAR)

New Orleans, Metairie and Kenner - Not able to tell due to the state/county blocking internet access, but I'm sure the "reporter" could have got the hard #s if he wasn't spinning for the NAR ;-)

Reno-Sparks area of Nevada - Hey, the NAR actually reported the right number! Of course, who wants to live in Reno :-P

Phoenix - -5.6%

Hoboken - -7% (Pre-cursor to NYC area)

Another interesting point to mention in this econo-spin piece is the curious lack of mention about house for sale (supply) being at all-time historic highs, which of course means this slide is just beginning, which of course is why this scared lil' rabbit of a reporter put out this happy talk to begin with ;-)

kitchenstove said...

LOL, I'm glad you decided to watch Yun too.

area 51 said...

Great job, you two deserve a medal. Thanks for keeping the pressure up on these corrupt losers. Blogs will be the only way for the people to expose these fraudsters.

showmenouns said...

It's insanity that the job title is "senior economist" when in reality it's clearly "senior spokesperson".


Anonymous said...

Nice. Do you have the quote from him where he says some mumbo jumbo like:

"...house prices are stabilizing in a cyclical trough"


Be nice to make a header containing a few of his most choice sayings.

Anonymous said...

This likes to come off as the scientist type whereas Liarreah used to try the chummy approach.

Anonymous said...

Anyone hear from Lereah? When's he coming out of his hole?

Anonymous said...

I dunno...

methinks Yun has a stable of grow houses he's skimming from.

Anonymous said...

"broad cyclical trough" WTF!

Anonymous said...

hey, give the man a break. as a model minority
korean brotha, what other chance does he have
to represent a national organization of anything?
it's not like he's an asian female or he'd already
be a newscaster.
no need to question credentials... if there's anything the asians got it's academics!

as for the (pot) grow houses issue, i did notice several chinese names in the posts on raided houses... likely some chinese mafia involvement