One good thing that came out of the dot-com collapse is that analysts and media have to expose when they have any potential conflict of interest - stock holdings, investment banking relationships, etc.
Well, as we all know, that doesn't happen today with real estate.
You have people like The Corrupt David Lereah out there cheerleading housing, while speculating in investment condos, having his salary paid by six percenters, and making money off of "housing never goes down" books.
You have Nicholas Retsinas at Harvard's Joint Center for Housing putting out "there is no bubble" statements, when his salary is paid for by the who's-who of the REIC.
You have MSM reporters cheerleading housing because their salaries are paid for by REIC ads, and on a personal level their house is their biggest financial asset (or risk). In other words, their entire career and financial well-being rests on house prices going up.
And you have real estate clerks giving their expert unbiased views to the MSM on how we've "hit bottom" and how "it's a great time to buy or sell", when the only thing standing between them and a lifetime of Top Ramen is getting suckers to believe that it's a great time to buy or sell.
Real Estate and stocks should be treated the exact same way. Anyone with a vested interest in the asset in question should be required by law to expose their potential conflicts.
Until then, the public will continue to be duped, conned, lied to, deceived and crushed.
HousingPANIC full disclosure: I don't own any real estate thank god.
