I feel sorry for any fool who takes the "NAR Chief Economist" job. It's pretty obvious that "sell your soul", "permanently destroy your future job prospects" and "lie, deceive and distort" are at the top of the job description.
Here's Yun saying that home prices are NOT GOING TO DROP in 2008. He also has a message for Bernanke - stop cutting rates. Why? Because inflation is going to roar, long term bond rates will soar, and a 30 year mortgage will be at a double-digit rate soon enough. And on that, I think we can agree with Yun.
That said, a special HousingPANIC message to Lawrence Yun, who reads this board:
Lawrence, do good in this world. Quit. Resign. Blow the whistle. Testify in front of congress. Spill the beans. Redeem yourself.
Your predecessor David Lereah was obviously a slimy snake, a used car salesman, pretty much scum of the earth. You seem like a nice fellow. But both of you have done very very bad things to America.
Lawrence, we're pulling for you big guy. Walk away. Go out in a blaze of glory. Step away from the Dark Side. Join forces with us. Become an HP'er! You, my friend, right now, have the ability to rock this world and make history.