Baghdad Bob of real estate fesses up

User Forum Topic
Submitted by Ins_Ane on December 21, 2008 - 2:29pm

Found this
http://www.financialarmageddon.com/2008/...

linked from here
http://www.nakedcapitalism.com/

"Former real estate bull admits, “I spun”
Working for realtors, David Lereah was famously optimistic. Not anymore.
By Donna Rosato
As chief economist for the National Association of Realtors, David Lereah was famously optimistic. Now a private consultant, he’s abandoned what he calls the “positive spin.”

Q: Were you wrong to be so bullish?

A: I worked for an association promoting housing, and it was my job to represent their interests. If you look at my actual forecasts, the numbers were right inline with most forecasts. The difference was that I put a positive spin on it It was easy to do during boom times, harder when times weren’t good. I never thought the whole national real estate market would burst."

Guess nothing new for people on Piggington's...

S

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Its like watching AG back
Submitted by barnaby33 on December 21, 2008 - 6:18pm.

Its like watching AG back into an apology without having to make it. I'd say its new, in terms of acknowledging he was full of shit. Its not new that he was full of shit.

Josh

Josh, THAT was great.
Submitted by HLS on December 21, 2008 - 9:14pm.

Josh,
THAT was great. Thanks for the laugh~! .. HLS