February 07, 2008

HousingPANIC calls for the firing of the NAR's "chief economist" Lawrence Yun

But hey, I'm not holding my breath.

Everyone by now knows that Lawrence Yun, and before him David Lereah, are completely and totally discredited by now. The MSM should never print one quote from this paid liar without first stating "Lawrence Yun, who is paid to lie by the NAR, ..."

Well, even Lawrence Yun is having to deal with the reality that housing is in the early days of a historic and epic crash. And even though just a few days ago he put out a report that 2008 would be rosy, today the NAR did an about-face and admitted that 2008 is gonna suck.

Although their definition of "suck" is still nowhere near reality. You have economists predicting a 25% decline in prices and the NAR is saying 1.2%.

Yeah, good luck with that.

realtors and the NAR are now beyond hope. The realtor profession is dead, it is discredited, it is disrespected and it is destroyed. And the NAR represents the very worst of the profession - corrupt, lying and anti-American.

F*ck the NAR. F*ck Lawrence Yun. And f*ck the realtors. The jig is up.

Home prices set to slide in '08 - National Association of Realtors pulls back on outlook and forecasts second consecutive annual decline in prices and sales

NEW YORK (CNNMoney.com) -- In a fresh sign that the nation's housing crisis will worsen, home prices are likely to decline in 2008 for the second straight year, the National Association of Realtors said Thursday.

"We're seeing a pattern that is consistent with skimming along the bottom of the cycle, and sales could ease modestly," said Lawrence Yun, the group's chief economist, in a statement.


Anonymous said...

Mr. Yun and Mr. Learah need to understand how important our homes are to us.

I've said it once before and I'll say it again! If you're going to sell the house please clean out the dead bodies!

House-Hunting Horror: Body Found During Open House
Thursday, February 07, 2008

An estate agent is recovering from shock after he showed a group of househunters around a house — and found a dead body inside a closet.

The prospective buyers were browsing around the four-bedroom home during an open viewing while the owner's corpse was hanging in the master bedroom.

And discovering the body, they fled, with the shocked agent immediately locking the doors of the property in Quorn, Leicestershire, behind him and dialling for help.

The 48-year-old owner had put the detached house on the market for $670,292 after his elderly mother died.

He reportedly told neighbors he was devastated by her death and the house held too many memories.

Gary Hartley, who owns agents Hartley Estates, praised his colleague for the way he handled the situation.

He told Sky News Online: "One of my colleagues was conducting a tour of the property and unfortunately the body was found in a bedroom.

"My colleague was terrific, he calmly ushered people out and locked the door.

"He wasn't to know exactly what had gone on and informed the family and the authorities, and went home shaking."

Hartley said he did not know how many people were there, but said it was an open viewing and there was more than one party.

He added: "It's a very desirable area and there's always been a lot of interest hence there were a number of viewers.

"The buyers were shocked as well. But we exposed as few people as possible to the body."

He said: "Our sympathies go to the family and praise to my colleague for the way he handled the situation.

"We have had people who were there for the viewing phoning up to praise the way he conducted himself."

Police said the death is not being treated as suspicious and an inquest will be held at a later date.

Anonymous said...

I developed One rule over the years when it comes to dealing with RE agents, brokers and the Dept. of RE. ONE RULE: "DON'T BELIEVE ANYTHING THEY SAY"

If you follow that one rule, you'll be fine.

JAFO said...

Hey Larry, the only pattern I'm seeing is that you and your goofy organization have been consistently wrong with every prediction.


Anonymous said...

It's the weather that has been dragging sales down. There has been an unusually thick formation of clouds the last two years.

Dr Rowan Williams said...

"And the NAR represents the very worst of the profession - corrupt, lying and anti-American"

I would beg to differ. Corruption and lying are now Americas stock-in-trade. Nothing anti about it.The NAR are just a personification of 21st Century America.

Frank@Scottsdale-Sucks.com said...

Why would they be fired? They're paid hacks doing what they're ordered to do by the NAR.

Anonymous said...

The only truth in his statement is "We are seeing a pattern". Now simply fill in the proper predicate.

Anonymous said...

Debt is wealth - for the bankers. At least it used to be before they loans money to criminals and deadbeats.

Tracedog said...

All, and I mean ALL suspect and responsible parties need to be arrested, held without bond pending trial before a truth and reconciliation tribunal, to answer for the wanton destruction of our currency and financial system. The arrest warrants should be executed TONIGHT, with the following people taken into immediate custody:
1. The entire board of governors and chairmen of the Federal Reserve system for the last 8 years.
2. Treasury Secretary.
3. SEC board and chairmen
4. ICC board and chairmen
5. All congressional and senate oversight committee chairs.
6. The CEO, CFO and chairmen of all major US banks, Brokerages, Stock exchanges, etc.
7. All other members of Congress and Senate from both parties.
8. Head of NAR.
9. Head of association of appraisers -who ever that is.
10. Head of Moodys, S&P and other "ratings" firms.

These are the people that hold and pull the strings. They need to answer for their actions or failures. In many cases these individuals make hundreds of millions of dollars a year. At those rates of pay, failure and incompetence should not be an option. There needs to be accountability. There needs to be fear of punishment.

common sense said...

Actually, I've noticed a drop-off in the number of stories that quote Yun anymore. Or at least they quote him very low in the story, and often with the caveat that the NAR is a trade organization that promotes housing sales.

Yes, Yun is only doing what he's paid to do, like Lereah before him, but the problem I have is that his title is Chief Economist. You don't haul out your economist to be your PR flack. The NAR thinks that gives their numbers greater impact and credibility, but it actually hurts them. If they were smart businessmen/women, they would stop that and just bring out some PR hack to release the numbers.

I'm not saying Economists are all geniuses, but reducing them to PR spokesmen is just dumb policy. It makes them look like numbers-torturers, not economists.

Princess Mononoke said...

common sense said...
>>>Yes, Yun is only doing what he's paid to do, like Lereah before him, but the problem I have is that his title is Chief Economist.
February 08, 2008 9:35 AM

Yeah, I have a problem with his title as well as the title of our current President vis a vis "Commander and CHIEF".

If they truly cared, the NAR would help raise their self-image and confidence in the markets if they would JUST come clean and be TRUTHFUL about the current situation and our future prospects...

But it doesn't seem like anybody in position of power and influence knows the meaning of the word 'TRUTH' anymore! Everything now is 'make believe'.

Oh yeah, let's continue lying to the sheeple... they'll believe anything!

Poor Dad said...

When you want good information about the real costs of owning and maintaining, say, a used car, the last person you would want to go to for good advice is the used car salesperson.

So why, when the declining and overpriced asset in question is a house, does everybody insist in putting some trust in a used house salesperson?

I am amazed at what people are led to believe by propaganda (er, "marketing") departments. Tell them that the used house salespeople love them, and they will do whatever the salespeople want. Take a decades-old farm vehicle design, stick shiny things on the side with adhesives or put fake plastic military vehicle cladding on it, and they will get a 30 year mortgage for an Escalade or a Hummer. While actual manufacturing and distribution costs are plummeting, a cartel can charge whatever they want for huge televisions because most people are in love with the idea of other people seeing them with a big shiny TV (and they have nothing better to do than watch reality TV, anyway). In presidential politics, the tallest candidate with the best teeth usually wins, because they have formed no other opinions.

truth teller said...

Yun is truly nothing more than a cheerleader for the NAR. Maybe the NAR should get him some
pom-poms and a dress, put some silk panties on him, and send him out to the MSM. At that point, Yun would be considered a hero for "coming out of the closet"! the NAR would be loved by the MSM for being a "progressive" organization, and all would be well.... except for the economy, that is. It would still continue to tank. But, at least we could all join hands and sing
kum-bye-ya, praise the NAR for being progressive, and watch Yun in his skimpy skirt, gyrating to the tune of "Beat It"!

Princess Mononoke said...

truth teller said...
>>>But, at least we could all join hands and sing kum-bye-ya, praise the NAR for being progressive, and watch Yun in his skimpy skirt, gyrating to the tune of "Beat It"!
February 10, 2008 1:51 AM

O-M-G! You had me RLMAO! Thank you ;)