FLASH: The Corrupt David Lereah (TCDL) finally admits he f*cked up, housing bubble did exist, crash now underway

That's it folks. Put a fork in it. The housing bubble is dead, and even TCDL (sure miss the little guy eh?) now admits he was spewing lies.

HP note to TCDL: Your lies and spin ruined lives. You are a shameful, corrupt little man who knowingly enriched himself at the expense of America. History will not be kind to you or to your replacement stooge Lawrence Yun.

Perhaps the most prominent housing booster was David Lereah, the chief economist at the National Association of Realtors until April. In 2005, he published a book titled, “Are You Missing the Real Estate Boom?” In 2006, it was updated and rereleased as “Why the Real Estate Boom Will Not Bust.” This year, Mr. Lereah published a new book, “All Real Estate Is Local.”

In an interview, Mr. Lereah, now an executive at Move Inc., which operates a real estate Web site, acknowledged he had gotten it wrong, saying he did not fully realize how loose lending standards had become and how quickly they would tighten up again this summer. But he argued that many of his critics have also been proved wrong, because they were bearish as early as 2002.

“The bears were bears way too early, and the bulls were bulls too late,” he said. “You need to know when you are straying from fundamentals. It’s hard, when you are in the middle of the storm, to know.”

Housing bubble enabler Blanche Evans of Realty Times in an illogical diatribe again blames media for housing panic

Blanche, Blanche, Blanche...

Blanche, Blanche, Blanche...

Panic Working Like A Charm; Home Prices Mostly Down In June

by Blanche Evans Realty Times

Despite positive fundamentals such as low unemployment, rising wages, and low borrowing rates, consumers are panicked about the housing market and sitting out a golden opportunity to buy at low interest rates with plenty of inventory to choose from. One reason is the constant drumbeat that housing prices are softening by the press, but consumers aren't getting much insight or perspective along with the daily drip of bad news.

If the media and economic experts are saying that home prices are going to fall further and then recover, is it so strange that buyers are waiting? My question is why is it "denial" for sellers to wait out the falling prices part to cash in on the recovery part?

That's what makes this whole thing so funny. Somehow it's okay for buyers to panic, but not for sellers to remain cool.

Great news everyone! According to Yahoo and Realty Times, there was no housing bubble, real estate to be just fine

My question - Is it possible to sue these people? Nice to see Yahoo allow Realty Times to pollute their real estate section with this spin and blather. And nice to see Realty Times do their best to completely discredit the REALTOR profession.

Real Estate Sky Won't Fall: Here's Why

Real estate hasn't made much of a case for itself lately and it's not getting much help from any of the sub industries, such as builders and mortgage makers. Just in the past few weeks, so called experts from the mortgage industry, the building industry, and the resale real estate industry have all been quoted as saying that the sky is falling.

Nice job guys!

And while real estate's reputation as the number one investment is on the ropes, the general media and other investment categories have stepped up their attacks on real estate value. What do you need to know?

1) The Sky isn't falling.
2) Real estate is unique.
3) There is no bubble.
4) Value is a complicated cocktail.
5) There is always a baseline of demand.
6) There is always a baseline of mortgage defaults.
7) There is no risk.
8) Real estate is a great way to build wealth.

So, perhaps, don't believe every "the sky if falling" report or article. Educate yourself on the market and happy wealth homeowning!