The NAR is a complete joke…

[GoUSC]

So now they are saying that it’s consumer psychology that is making the market go down…Forget fundamentals.

Un-frickin-believable.

“On July 25, the National Association of Realtors reported that sales of existing homes fell 3.8% in June to a seasonally adjusted annual rate of 5.75 million units, contributing to the bleak-and-getting-bleaker outlook.

The NAR believes consumer psychology is to blame. “Homebuyers have been getting mixed signals about the housing market, which is causing some of them to hesitate,” said NAR Senior Economist Lawrence Yun in a statement.”

[SD Realtor]

I agree Rad… It is quite a joke. Did you read the yahoo article in full? Towards the bottom of the article they were talking to this guy Kunz from Century 21. “We’ve just elected we’re not going to participate in the pity party anymore,”

What does that even mean?

Anyways I fully expect for NAR to keep blaming everyone and anyone else rather then being honest about the entire situation. They really don’t have any alternatives.

SD Realtor

[SD Realtor]

I agree Rad… It is quite a joke. Did you read the yahoo article in full? Towards the bottom of the article they were talking to this guy Kunz from Century 21. “We’ve just elected we’re not going to participate in the pity party anymore,”

What does that even mean?

Anyways I fully expect for NAR to keep blaming everyone and anyone else rather then being honest about the entire situation. They really don’t have any alternatives.

SD Realtor

[HLS]

It’s a self serving organization.

Do you think that they would dare utter those two horrible, terrifying words..
“irrational exuberance” ????

They believe that they can talk themselves out of a falling market. It’s just called DENIAL…..

Don’t worry, they will catch on eventually.

[HLS]

It’s a self serving organization.

Do you think that they would dare utter those two horrible, terrifying words..
“irrational exuberance” ????

They believe that they can talk themselves out of a falling market. It’s just called DENIAL…..

Don’t worry, they will catch on eventually.

[GoUSC]

I have lost a lot of faith in the residential mortgage/real estate industry. There is just too much bullsh*t going on. Case in point, an example of advice a mortgage broker gave to a guy looking to buy in Orange County:

“…with giving purchasing advice.. its all subjective… i could really care less what the market is doind, is all about “do i like this house, is it worth the money TO ME not OTHERS, is it a “keeper”? does it fit my budget?”

[GoUSC]

I have lost a lot of faith in the residential mortgage/real estate industry. There is just too much bullsh*t going on. Case in point, an example of advice a mortgage broker gave to a guy looking to buy in Orange County:

“…with giving purchasing advice.. its all subjective… i could really care less what the market is doind, is all about “do i like this house, is it worth the money TO ME not OTHERS, is it a “keeper”? does it fit my budget?”

[cr]

I don’t know, depends on how you interpret it. They’re liberal with numbers, so we can be liberal with words; maybe they mean “consumers finally realized houses are overpriced.”

The NAR is still a bunch of goobers though.

[cr]

I don’t know, depends on how you interpret it. They’re liberal with numbers, so we can be liberal with words; maybe they mean “consumers finally realized houses are overpriced.”

The NAR is still a bunch of goobers though.

[Anonymous]

I had to laugh at NAR’s blame-shifting. There’s really an easy fix for them – stop lying and there will be no mixed signals.

[Anonymous]

I had to laugh at NAR’s blame-shifting. There’s really an easy fix for them – stop lying and there will be no mixed signals.

[JPJones]

SD Realtor:

This article might provide a little more insight into the statement by Kunz you quoted:

http://news.yahoo.com/s/ap/20070727/ap_on_bi_st_ma_re/all_business;_ylt=Agzd0pT1Dtpt3wuuI62hokVIOcEF

In short, he’s calling BS on those in the industry who keep saying they didn’t see the housing bust coming.

[JPJones]

SD Realtor:

This article might provide a little more insight into the statement by Kunz you quoted:

http://news.yahoo.com/s/ap/20070727/ap_on_bi_st_ma_re/all_business;_ylt=Agzd0pT1Dtpt3wuuI62hokVIOcEF

In short, he’s calling BS on those in the industry who keep saying they didn’t see the housing bust coming.

[temeculaguy]

The NAR shills will always talk like bhagdad bob but I was shocked to see how honest the home builders economist, David Seiders, was on t.v. yesterday. He dismissed the slight rise in median as not seasonally adjusted and “a problem with the data composition,” he tried early on in the piece to say we are through the lion share of the bad stuff but then said no recovery in 2007, it will get worse and maybe/maybe not in 2008. He admitted that there is more than just price discounting with builders, there are a lot of non price incentives and this will increase. Then he made the most honest statement I’ve seen from a paid spokesman “We really dug a big hole for ourselves starting in 2003 and going until early 2006, it is going to take some time to sort through this” and then something about it is hard to predict the bottom because there are factors at play that we have never experienced. He also said that prices have to come down further, the builders know this and the resellers are only just now understanding this.

If he keeps talking like this he is going to do two things, gain the respect of the average piggintonian and be out of a job.

http://www.paperdinero.com/BNN.aspx?id=298

[temeculaguy]

The NAR shills will always talk like bhagdad bob but I was shocked to see how honest the home builders economist, David Seiders, was on t.v. yesterday. He dismissed the slight rise in median as not seasonally adjusted and “a problem with the data composition,” he tried early on in the piece to say we are through the lion share of the bad stuff but then said no recovery in 2007, it will get worse and maybe/maybe not in 2008. He admitted that there is more than just price discounting with builders, there are a lot of non price incentives and this will increase. Then he made the most honest statement I’ve seen from a paid spokesman “We really dug a big hole for ourselves starting in 2003 and going until early 2006, it is going to take some time to sort through this” and then something about it is hard to predict the bottom because there are factors at play that we have never experienced. He also said that prices have to come down further, the builders know this and the resellers are only just now understanding this.

If he keeps talking like this he is going to do two things, gain the respect of the average piggintonian and be out of a job.

http://www.paperdinero.com/BNN.aspx?id=298

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