This report has government bailout written all over it. When I first saw the title of the post I was expecting to read some wacky survey by the NAR that showed how people thought home prices were reasonable, or something crazy like that. However, seeing the information that they came up with and how some of the data is summarized, it smells like they are trying really hard to work a political angle here (e.g., home prices being a voting issue, people wanting more affordable housing, etc.).
It’s hilarious that they mention nothing of the fact that the grossly over-priced homes are due partly to the actions of realtors themselves, one of the main groups who directly benefit from exhorbitent home prices! Now they are taking an indirect (and most likely orchestrated) approach to drumming up government support for affordable homes. I particularly like how their survey showed that high home prices has led to a decrease in productivity! Classic!
