Thursday, February 14, 2008

Lawrence Yun Spins In Rochester

Lawrence 'paid spinner' Yun is back blaming the media and saying the housing slump is 'greatly exaggerated.' This paid spinner does not know when to be quiet. The Rochester Democrat Chronicle wrote:

Talk of a pending recession spurred by a housing slump is greatly exaggerated by national media and could spur a self-fulfilling prophecy as the negative news is emphasized, the chief economist for the National Association of Realtors told local real estate agents today.“Paraphrasing Franklin Delano Roosevelt, what I fear is fear itself,” Lawrence Yun said at the Greater Rochester Association of Realtors 2008 Real Estate Trends and Issues luncheon today at the Hyatt Regency Hotel.

Yun told the audience that the national news outlets tend to cherry pick data and expert interviews to perpetuate the story that the economy is heading into recession as housing prices fall and foreclosure rates rise.“If the news organizations have an agenda, they will call somebody and they’ll get the information they want,” he said.

Mr. Yun has not yet reached the level absurdity of the infamous David Lereah, but he is sure heading in that direction. Yun has been discredited for his paid spining and his ridiculous predictions.

Lawrence Yun should be fired because he has lost his credibility. The NAR should get out of the business of making predictions about the housing market as they have been so wrong, often.


Anonymous said...

I continue to read Mr. Yun's comments with total disbelief that he or anyone could so shamelessly put forth such b.s. and still look themselves in the mirror.

Thanks for the blog. Just found it and will return regularly.

DaveO said...

Here's the NAR's latest (from CNN): The NAR take on price trends, usually an optimistic one, was that recent steps taken in Washington would lead to improved conditions later this year.

"Higher limits for FHA loans, which go into effect March 14, will be a big help to first-time buyers in high-cost markets," said NAR President Richard Gaylord.

"Higher limits for conventional loans purchased by Freddie Mac and Fannie Mae will take a bit longer," he said. "When they become available, high-income, creditworthy borrowers in high-cost areas will have access to affordable and safer financing, and that will help unleash pent-up demand."

Anonymous said...

Lawrence Yun, lying-shit-sucking-scumbag alert: