Saturday, April 19, 2008

Lawrence Yun brings sunshine to Michigan. Michigan refuses to cooperate.



FOLKS, LAWRENCE YUN IS EVEN WORSE THAN DAVID LEREAH. THE NATIONAL ASSOCIATION OF RAMEN EATERS SHOULD DISMISS THIS FOOL BEFORE HE DOES EVEN MORE DAMAGE.

Ah, screw it. He's the gift that keeps on giving. I hope he stays until they board up the NAR HQ. I hope he stays long enough to testify in front of Congress.

Here's Yun in economic collapse and housing crash ground zero Michigan, saying there's no recession, no contraction, and anyone who buys today is going to have huge equity gains in 2 years.

Amazing.

3 comments:

Responsible Homeowner said...

As much as we distrust Yun, his role in real estate market is unmistakable important.

Imagine the current housing market without Yun. Everyone knows the foreclosure is sky rocketing and home price is tumbling down the sink. If everyone stop buying and giving up hope their home will appreciate in foreseeable future, home price will keep going down and down without resistance. The outcome is all realtor will need to change their profession. Many of them became agent only few years ago, during boom time. So they will face difficult time looking for another stable income profession. This translates to larger unemployment rate.Some of them may not be able to keep up with their mortgage as well.

Secondly, home price may over correct, because all of us know the truth, and causes big loss to financial and bank industry as a result of default. Imagine median home price of Los Angeles county at 200k(is 400k now). Bank declares bankruptcy, investment bank folds. Outcome? More layoff and unemployment goes up. More foreclosure and homeless on the street. Our society will be in a whole mess. There is a laundry list what will happen if things to go other extreme without resistance.

Human are very emotional. Otherwise we won't see today's mess and there will be many Warren Buffett.

In short, Yun knows very well his role as a optimist for realtors and homeowners to help painting the last hope or bright future for the group he represents(NAR). I won't be surprised if Uncle Sam also subsidizes part of his salary indirectly given the stake is so high.

All people need is a hope, although we all know this hope is so unrealistic and unreachable at this moment. So, we really should give a grand applaud for Yun's courage to speak against his conscience(as smart as he is) in public without a blush. He risks being punished by God for not speaking the truth everyday. He may not have good sleep at all. Not many people can do that.I know I can't. Can you?

Broker Knowledge said...

OK, this is crazy talk from responsible homeowner. Are you really saying that the more we are lied to the better it is for us???? The truth is if we all dealt with the real issues we would crash faster and recover quicker. That would get us back going. With people like Yun lying to everybody it just puts the inevitable off even longer and delays an even tougher crash. We got to this place because we were lied to about the economic inevitable of a lack of fundamentals. This guy needs to start researching.

SystemicRisk said...

I think "responsible homeowner" is Yun himself.