Lawrence Yun was promoted to chief economist (aka spinner) for the National Association of Realtors (NAR). In a press release from NAR:
The National Association of Realtors® today named Lawrence Yun chief economist and senior vice president of research. Yun has served at NAR since 2000, most recently as vice president and senior economist.
“Lawrence is a talented economist and an outstanding forecaster who has contributed greatly to NAR’s growth and prestige as the leading advocate for the housing industry,” said Dale Stinton, NAR executive vice president and chief executive officer. “We are proud to have a man of Lawrence’s integrity and honor.
“He is a no-nonsense and level-headed analyst of the housing market who calls the data as he sees it, and has guided NAR with skill as chief spokesman for the past several months in a competitive real estate market. We have great faith and trust that Lawrence’s tenure will be a stellar one that will enhance NAR’s reputation as the most reliable and credible source of real estate research.”
Mr. Yun is not an 'outstanding forecaster;' his forecasts have been way off the mark. In September 2005 he predicted "The chance of a housing price decline in the DC area is close to zero, in my view. I anticipate that prices in DC will outpace the national average price growth. DC prices will rise at close to a 7 to 10 % rate of appreciation. " As we know priced have declined in the DC area since Yun's wrong prediction.
Do not trust Mr. Lawrence 'paid spinner' Yun. The general public and media need to be aware of his spins, predictions that have proven wrong, and his contradictory statements. Mr Yun is a paid shill who has lost his credibility.