Friday, January 18, 2008

Mr. Yun Spouts More Nonsense in Denver

Lawrence Yun traveled to Denver and spouts more nonsense. The Denver Post reports that:

“The subprime-mortgage crisis already is a thing of the past and should not affect the housing market going forward, Yun said. ‘The subprime mess is a Wall Street mess,’ Yun said. ‘They made a huge gamble, and they lost. Subprime is a past event that’s unrelated to homebuying.’”

The subprime mortgage crises is NOT a thing of the past. It is still very much a part of the housing market as over 250 billions dollars of subprime mortgages reset in the next couple of years (see chart below). Yun is a subprime economist and has lost his credibility.

3 comments:

DaveO said...

I had to laugh when I read his this BS. Yun doesn't get that all these subprime people who have foreclosed or will foreclose simply add more inventory to and take more buyers from the housing market.

"Subprime is a past event that's unrelated to homebuying." Is Yun off his rocker? Subprime basically involves money given to people who (when banks were prudent) couldn't normally afford to buy houses. In other words, homebuying money. Now that homebuying money is gone. Yet Yun somehow thinks that the removal of such money is UNRELATED TO HOMEBUYING? WTF?! What, other than money, does he think people use to buy houses?

Sometimes you eat the bear and sometimes the bear eats you said...

where can i find the video of housing crash set to the song "Crash" by The Primitives?

I saw it somewhere on a housing blog or something, but can't find it anymore.

Thanks in advance

It's never been a better time to buy or sell beer.

Anonymous said...

No, he's right - there's nothing to see here, just move along!

Please contact your happy go-go realtor so that they can sell you an overpriced P.O.S. house and get their well deserved commission.

DO IT NOW - The YUN HAS SPOKEN!