Coffee… out my nose (David “Baghdad Bob” Lereah)

[one_muggle]

The Realtors said the problems in subprime could actually lead to a stronger housing market over time if tighter lending helps prevent buyers from getting in too deep with low “teaser-rate” mortgage loans before being hit with much higher payments a year or two later.

http://money.cnn.com/2007/04/11/news/economy/home_prices/index.htm

Don’t mean to be gross, but literally… coffee out my nose.

[drunkle]

but the headline didn’t get you?

“Home prices to fall for first time in 2007
Real estate group sees 0.7% drop in prices this year, the first annual decline in nearly 40 years of tracking.”

lets see… 2007-1991 = something smaller than 40…

[Bugs]

I think the statement is not without merit. Our local bubble would have never gotten as far as it did without the lack of credit underwriting.

[kicksavedave]

If by stronger, he means less forclosures forcing values down, I could see that, but it would be many years before that dynamic takes effect. But if by stronger, he’s overlooking that an enormous segment of the market that was formerly buying up everything in sight, is no longer involved, then I’d say “There are no troops in Baghdad, either”

[SD Attorney]

The NAR has offically ruined it’s reputation (not that it had a great one in the first place).

By ignoring the RE bubble and by prancing around statistics the NAR has become a laughable organization.

I doubt there is anyone on this blog that puts any faith in what the NAR says.

David Lereah has discredited the organization and made RE professionals look like jack asses.

I don’t understand why more RE professionals are not calling for Lereah’s resignation and attempting to replace him with someone with more credibility and character.

Any other national organization that had a “leader” like that would have taken action to replace him long ago.

The guy is a joke and he has made the NAR a joke. I feel sorry for you RE professionals, but I feel more sorry for the fact that you RE professionals aren’t doing anything to save the integrity of your organization. If there is any left….

[Critter]

From an article advocating renting over buying published in yesterday’s New York Times:

“Back in 2005, near the peak of the market, the chief economist of the Realtors’ association, David Lereah, published a book called “Are You Missing the Real Estate Boom?” The can’t-miss argument was wrong then, and it may still be wrong today.”

Even the NYT is onto him and his crap. I still think his last name is a combination of the words “liar” and “diarrhea.”

[SD Attorney]

Exactly my point.

David Lereah is a joke. But, that doesn’t mean the NAR has to be a joke. But, guess what, it is.

Because no RE professionals seem to give a damn about it.

Notice how Repulicans are separating themselves from Bush to stay afloat. RE professionals should be doing the same thing with Lereah.

They should demand his resignation immediately, or else, the NAR will continue to degrade and become even more laughable.

[Critter]

Liarrhea should go on the Don Imus show – kind of a two-for-one resignation/get-kicked-out special.

[LookoutBelow]

You cant get on the Realtors case too hard like that …..just look at what "Qualifications" you must first achieve to be able to join that group…..you must first do ……um…..err….ahh ???…NADA ! …Pass a simple test and be able to lease a C230 Silver or Black Benz

My former landscaper is/was selling real estate, he did pretty good for a few months, but he got in the scam too late, so if he can…anyone can.

Its not an organization filled with highly educated highly qualified, over achievers…No, its a coffee clutch group of shysters and housewives for the most part, these guys couldn't make it selling appliances at Sears on a salary …. Just look at their hero…..Donald Trump !…the goofy "Scumbag extraordinaire" …..Lereah has only percolated to the top of a very stinky pot…he's not a real economist, he's a paid shill/lackey…No surprise there either

Not to discredit some real estate professionals that really are highly educated, highly qualified, over achievers…there are a few of them…key word: FEW

[gold_dredger_phd]

Selling real estate is something you do after you have failed at everything else. It’s the career of last resort.

[Anonymous]

All hail David always-look-on-the-bright-side-of Lereah-fe!!!

Life’s a piece of shit
When you look at it
Life’s a laugh and death’s a joke, it’s true.
You’ll see it’s all a show
Keep ’em laughing as you go
Just remember that the last laugh is on you.

[justme]

David Lereah has discredited the organization and made RE professionals look like jack asses.

Not that they needed any help with that.

[ibjames]

While I admit realtors are not looked at in the best light. There are some sharp realtors on this site and bashing their profession gains nothing.

Out of respect for them let’s try to bite our tongues and play nice. We all know how easy it is to get licensed and so on, and there are a ton of jackasses out there. I would hate to alienate the insightful realtors that do have a brain and contribute to this site.

[Ash Housewares]

I think some of the criticism here is misplaced. Not to defend David, but his job as an employee of the NAR is to do what is best for the NAR- not what is best for you and me. Stirring up sales are his job. You can complain about it until the cows come home, but the man is just doing what he is paid to do. The blame should be placed with the journalists who parrot him without conducting the slightest bit of their own analysis. Journalists are paid to dig to the bottom, which they failed to do.

In regards to RE being a last choice career, I would strongly disagree. My brother quit teaching high school to become a Realtor, and he would never go back, even in a slow market. He loves the freedom it gives him (and the money is about 5 times what he was making as a teacher). I think the hostility toward Realtors is born out of a seed of jealousy- we see them making bucks faster than most of us ever will, and we resent that they do it with minimal education.

[Cow_tipping]

Yes, I’d agree, however being a teacher while its entirely a really really noble profession is so shitty because of the high level of regulation, and the respect is pitiful in society … I mean they are directly viewed at as a expense and one ready made source of where tax dollars go and its just not one I would choose at all. However teaching is relatively easy, and hence a lot of people go for it. Just like they avoid math and physics cos its difficult and study art and history.
Cool.
Cow_tipping.

[Author]

Posts