FLASH: Hilariously, and for the umpteenth straight month, the monkey-run NAR lowers its housing sales and pricing forecast

Ya gotta love the little guys.. the gift that keeps on giving

Why the media still reports anything these lying corrupt jokers say as news is beyond me. And guess what folks - next month, the monkeys will lower the forecast again. And the month after that? The monkeys will lower their forecast again.

And the month after that?

And the month after that?

And the month after that?

And the month after that?

Realtors Pare Back Forecast Again,But Project Rebound Next Year

WASHINGTON -- The National Association of Realtors continued to pare back its forecast for existing U.S. home sales in 2007, while projecting a modest rebound for the struggling housing market in 2008.

In its latest forecast for the real estate market, NAR on Wednesday projected that existing home sales will fall 5.6% this year to 6.11 million, compared with its previous forecast of a 4.6% decline.

New-home sales are also expected to be soft this year. The NAR said new home sales are likely to fall 17.7% to 865,000, compared with the prior forecast of a 18.2% drop.

Lawrence Yun, NAR's senior economist, said a good buyer's market had developed, amid falling prices and swelling housing inventories.

Making fun of the morons who lent the liar's loan money out (that ain't gettin' paid back)

Check out this video - Comedian Kathleen Madigan on CNN talking about moron lenders, and the the stupid idea of a government bailout.

Oh, man, this is ending badly... and yet it's so funny I could cry

Hat-tip to HP'er C for the link

Why aren't real estate clerks embracing the crash (vs. calling bottom and saying prices are going up)?

Since ramen-eating real estate clerks can only start making money again if homes start selling again, doesn't that mean that instead of denying the bubble and trolling housing panic with disinformation and spin, shouldn't they instead be out there SHOUTING that asking prices are WAY TOO HIGH, that homedebtors are delusional, and that if anyone wants to sell a home in this environment they'll need to DRASTICALLY cut their asking price?

In other words, are real estate clerks and the NAR even dumber than even we thought possible (it's a great time to buy and sell a home!)?

HousingPANIC's message for the real estate clerks of America - SHOUT FROM THE ROOFTOP TO ANYONE WHO'LL LISTEN THAT HOMES ARE INSANELY OVERPRICED.

Unless homedebtors hear that and hear it loud, you'll keep eating ramen. It is your job to make sure homedebtors panic at this stage, and buyers think they can get firesale prices. The days of "buy now or be priced out forever" are over. You fools!

Now get out there and get 'er done! Even though nobody respects or trusts you anymore, at least get your message right. Geeze.

Home prices should spring back in coming months, the National Association of Realtors said Thursday, after it reported that prices slid in 73 metro areas in the final months of the year.

Home sales seemed to have hit bottom already in many areas: 71 metropolitan areas had price gains, and 14 of them posted double-digit year-to-year increases.But it's unclear how far the improvement will go or how long it will last.

"At least the bottom appears to have already occurred," says Lawrence Yun, a senior economist at NAR.