LawrenceYunWatch and HousingPANIC have a message for Lawrence Yun and the NAR

Message to Lawrence Yun and the NAR: Kiss our blogger butt.

So you think we burst your precious bubble?

So you think we're the ones responsible for the declining median home price?

So you think we're to blame for record inventory?

I guess the mortgage meltdown is all our fault?

Look in the mirror Lawrene Yun. And give your buddy David Lereah a ring too.

You're responsible. You caused this mess. You are the evildoers. You destroyed an American industry. You ruined lives. You caused a wave a foreclosures. And you hurt America.

We just pointed out the facts while you were still lying. And the people finally figured it out.

The Wrong Correction

BY LAWRENCE YUN, NAR SENIOR ECONOMIST

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.

This hesitancy is evident in home sales volume: Even though interest rates fell to 6.2 percent in early 2007 from 6.8 percent in August 2006, and the economy added 3.5 million new jobs, existing-home sales were down 8.5 percent in 2006, with further softening expected in 2007.

The irony, of course, is that although declines in sales volume have hurt real estate practitioners, they may be a plus for consumers. To a great extent, we can thank steady media coverage of the real estate market “correction” for unfounded consumer concerns.