HousingPANIC Stupid Question of the Day

How stupid and discredited do these two gentlemen look today?

Lawrence Yun, Chief Propagandist of the NAR, finds himself in a hole and keeps on digging. And digging. And digging.

That's it. I've had enough.

FOLKS, LAWRENCE YUN IS EVEN WORSE THAN DAVID LEREAH. THE NATIONAL ASSOCIATION OF RAMEN EATERS SHOULD DISMISS THIS FOOL BEFORE HE DOES EVEN MORE DAMAGE.

Ah, screw it. He's the gift that keeps on giving. I hope he stays until they board up the NAR HQ. I hope he stays long enough to testify in front of Congress.

Here's Yun in economic collapse and housing crash ground zero Michigan, saying there's no recession, no contraction, and anyone who buys today is going to have huge equity gains in 2 years.

Amazing.

And to think the USAToday just named Lawrence Yun one of the most accruate economists in America. I guess there were only five economists in America.

Click on the graphic to see the detail

Thanks to David at bubblemeter and lawrenceyunwatch for putting this one together. Picture is worth 1000 bad forecasts...

WTF??!! Special from LawrenceYunWatch: USA Today Names Lawrence Yun as Top Economic Forecaster

Special HP guest post from David, my partner in crime over at LawrenceYunWatch. And no, this is not an April Fool's joke. It's the real deal. And The USAToday is now the biggest joke in print media.

Take a minute and send this post to the USAToday with your comments - just hit the little envelope sign below this post to forward it

To report corrections and clarifications, contact USAToday Reader Editor Brent Jones at 1-800-872-7073 or e-mail accuracy@usatoday.com

- Keith


The USA Today named Lawrence Yun, the chief economist at the National Association of Realtors as its fifth top economic forecaster.

The National Association of Realtors(R) Chief Economist Lawrence Yun has been named among the top 10 economic forecasters by USA Today. Yun is ranked fifth on the list and is responsible for NAR's real estate statistics and economic forecasting. The annual list recognizes accuracy in forecasting.

I'm honored to be recognized among some of the best economists in the country," said Yun. "The economy and housing industry are facing many challenging issues at this time, which makes this an interesting and stimulating position

USA Today certainly did not do its homework. Have they read the Lawrence Yun Watch?

In September 2005 Yun predicted "The chance of a housing price decline in the DC area is close to zero, in my view. I anticipate that prices in DC will outpace the national average price growth. DC prices will rise at close to a 7 to 10 % rate of appreciation. "

As we know prices have declined significantly in the DC area since Yun's wrong prediction. According to the S&P Case Shiller Index, since September 2005 DC area prices have fallen 8.4%.Do not trust Lawrence Yun.

Yun even recently admitted that "It is also fine for people to point the finger at me. In a fast changing market conditions, I too have been off on my forecast."

The general public and media need to be aware of his spins, predictions that have proven very wrong, and his contradictory statements. Mr Yun is a paid spinner who has lost his credibility. The USA Today should be ashamed of its shoddy work.

The NAR's "Chief of Spin and Lies" Lawrence Yun mocked in the Sunday Times here in London, and destroyed on youtube.

Lawrence, Lawrence, Lawrence.

You don't have to lie for a living.

You don't have to destroy lives.

You don't have to be the laughingstock of the nation.

Quit tomorrow Lawrence. Just quit. And come clean. America likes whistleblowers. America is a forgiving country. Quit. Turn on the monkeys at the NAR. Testify in front of Congress. Be a man.

Or not.

So irritating has Nar become that Yun now has his own hater blog (Lawrenceyunwatch.blogspot. com). The same people ran a blog blasting his predecessor, David Lereah.

To be fair to Yun, Lereah seems the more deserving target. Lereah is a classic booster who once advised people it was a great time to buy and to sell.

He is also the author of the 2005 classic, Are You Missing the Real Estate Boom?: The Boom will not Bust and Why Property Values will Continue to Climb through the End of the Decade � and How to Profit from Them.

Ladies and Gentlemen, I give you the wise words of Lawrence Yun, newly appointed "Senior Economist" of the National Association of Realtors

Tar and feathers anyone?

I was going to go (kinda) nice on the little guy. No more. Lawrence Yun is a discredited hack, spewing baldfaced lies for an evil organization, and perhaps even more pathetic (is that possible) than the discredited hack that came before him, our friend The Corrupt David Lereah.

Lawrence Yun and the National Association of Realtors are today the laughingstock of America. But sadly, nobody is laughing.

Here's the latest from Yun. And keep up to date with his BS over at http://lawrenceyunwatch.blogspot.com

Consumers are hearing a lot in the media about the correction in housing, and they’re understandably concerned about whether now is a good time to get into the housing market.

To a great extent, we can thank steady media coverage of the real estate market “correction” for unfounded consumer concerns.

If there’s a correction in markets today, it’s in home sales volume and housing starts, not in home prices.

Even a relatively large price decline, such as the 12 percent drop we saw in Sarasota, Fla., cannot reasonably be called a correction when that market had a 150 percent price increase during the boom.

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."