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Hey that's cool, lies by members of the Real Estate Industrial Complex overlaid on a graph of existing home sales.
I like #13 penned by none other propagandist in chief at the time David Liarrhea after last years "spring bloom" wilted away:
"We also may be seeing some losses as a result of the subprime fallout. However, this is masking improved fundamentals in the housing market, with lower mortgage interest rates and motivated sellers." -David Lereah, NAR Chief Economist"
Yeah improved fundamentals in 2007, go David!
Hey Spleng wasn't he the one that wrote this!!
watch out, if that house falls
it could crush you
anyways
good luck
and beware of falling houses
Thanks for posting the link 30ashopper. My favorite example of NAR doublespeak from Lereah is this gem:
"but it'll likely take some months for price appreciation to rise"
Even though prices were falling, the statement is worded in a way to create the impression that home values are continuing to appreciate. I guess technically he's correct that going from negative appreciation (prices are dropping like a rock) to increasing prices is a rise in appreciation. I wonder if people like Lereah and Yun actually feel good about their jobs.
... and, it's free and anonymous
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Humor: "NAR Spin"
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30ashopper
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My favorite - #4: "We are returning to more balanced markets between home buyers and sellers… We feel confident that housing is landing softly as rates continue to rise."
LINK
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