HousingPANIC Stupid Question of the Day

If the NAR and REALTORS on COMMISSION didn't have monopoly control over the MLS, and America's bribed congressmen in their pocket, would they stand any chance of stealing 6%?

Bonus Question - will the MLS still be the dominant monopoly property listing service in five years?

SeekingAlpha: "NAR's Lawrence Yun Continues to Mislead on Housing"

I believe it's time for Yun to step aside. Just another sad chapter from the National Association of REALTORS on COMMISSION.

Yun has ruined his life, at a young age. Never to be trusted again. Such a shame. But there's one way out Lawrence - TURN ON YOUR EVIL MASTERS. BITE THE HAND THAT FEEDS YOU. ADMIT TO THE CORRUPTION AND LIES. COME CLEAN.

Or not.

Special Note: Google/Blogger has locked down LawrenceYunWatch and we can't post. Yes, they have the power to do that for absolutely no good reason (or at the request of their REIC advertisers). We're currently "under review" which they say can take up to a month. If anything ever happens to HP, I'll relocate the blog to www.housingpanic.com. FYI.

Here's the anti-Yun editorial today over at SeekingAlpha:

NAR Chief Economist Lawrence Yun continues to prove he's lost in the woods.

I'm sure most of you who have followed the real estate market recall his long list of ridiculous predictions. Do you remember when he claimed house prices would rebound in 2007? His quotes continue to supply stand-up comedians with new material.

One could reasonably argue that Yun is committing consumer fraud by trying to entice people to buy into a market that is poised to fall further. I suppose he thinks his ridiculous predictions will restore confidence in the real estate market. If in fact his role is to spread optimism, the NAR should be legally required to post an appropriate disclaimer stating their real purpose.

Here's the slide from David Lereah's October 2005 NAR presentation, mocking the housing "Chicken Littles" who ended up being right

I wish David Lereah could be jailed.

I wish David Lereah could be sued.

I wish he could be taken out back and tarred and feathered.

But alas, he can't. He, the NAR and the 1.2 million realtors lied, America got screwed, commissions got pocketed, and they all get off scott free. David Lereah, Lawrence Yun, Nicholas Retsinas, Kendra Todd, Mike Norman, Greg Swann, Blanche Evans, the list goes on and on...

Sure, they'll have to live the rest of their lives knowing they screwed their fellow man for a commission. Sure, Lereah and Yun are unhireable as forecasters or economists, and sure, realtors will NEVER be trusted again. But there's still something missing - some punishment, some retribution, some penalty.

I guess we'll just have to go with the public flogging by blog, and be done with it.

Has the monkey-run Pravda-like National Association of REALTORS(R) completely lost control now?

More Jim Cramer on CNBC yesterday, commenting on the monkey-run NAR asking for a "correction" to his report on the Today Show that if you bought a home today you'd lose money:

"Well that's a good organization (the NAR). You know what they remind me of, that organization that wants a correction (from me)? Pravda when they covered the Kremlin. Occasionally there were disputes. But typically Pravda took the Kremlin line. Occasionally someone got out of line, I didn't see it."

"They've got the whole Denny's Grand Slam on their face. They've got the four-stack"

"The National Association of Realtors is saying now's a good time to buy. That's interesting, cause I think they've said that for, how many years have they been in existence?"