Thursday, February 07, 2008
But hey, we're not holding our breath.
Everyone by now knows that Lawrence Yun, and before him David Lereah, are completely and totally discredited by now. The MSM should never print one quote from this paid liar without first stating "Lawrence Yun, who is paid to lie by the NAR, ..."
Well, even Lawrence Yun is having to deal with the reality that housing is in the early days of a historic and epic crash. And even though just a few days ago he put out a report that 2008 would be rosy, today the NAR did an about-face and admitted that 2008 is gonna suck.
Although their definition of "suck" is still nowhere near reality. You have economists predicting a 25% decline in prices and the NAR is saying 1.2%.
Yeah, good luck with that.
realtors and the NAR are now beyond hope. The realtor profession is dead, it is discredited, it is disrespected and it is destroyed. And the NAR represents the very worst of the profession - corrupt, lying and anti-American.
F*ck the NAR. F*ck Lawrence Yun. And f*ck the realtors. The jig is up.
Home prices set to slide in '08 - National Association of Realtors pulls back on outlook and forecasts second consecutive annual decline in prices and sales
NEW YORK (CNNMoney.com) -- In a fresh sign that the nation's housing crisis will worsen, home prices are likely to decline in 2008 for the second straight year, the National Association of Realtors said Thursday.
"We're seeing a pattern that is consistent with skimming along the bottom of the cycle, and sales could ease modestly," said Lawrence Yun, the group's chief economist, in a statement.