Wow, how could I forget this gem from November 2007? National Association of Realtors “Chief Economist” Lawrence Yun: Seattle a "superstar" market Seattle is becoming a “superstar” market, where housing costs may never settle back into historical relationships to incomes, a national analyst declared on Tuesday. Speaking at the annual conference of the National Association…
Tag: NAR
Big Freaking Surprise: NAR Overstated Home Sales
Okay, since this subject has been brought up in nearly every open thread over the past two weeks, I’m going to post about it here so we can just get it out of our system. Big freaking surprise: Realtors Lower 2007-2010 Home-Sales Estimates by 14% U.S. home sales from 2007 through 2010 were about 14%…
Home Sale Up Because of Declining Prices
A series of very similar headlines caught my attention today: Wall Street Journal: Home Sales Climb But Prices Decline CBS News: Home sales up, but housing prices continue to fall nationwide The Real Deal: U.S. existing home sales rise slightly, but prices fall Chicago Tribune: Local existing home sales up double-digits in October, but prices…
Even More Delightful NAR Propaganda
An instant classic: This video brings up a number of questions: Who is this nebulous evil entity that is “threatening the dream of home ownership”? How does a moving van across the street mean that my grandkid won’t be able to buy a home? Wouldn’t it put many NAR members out of business if everyone…
The Problem with Real Estate Reporting
I was browsing Google News this morning and came across the headline combo you see below: What a perfect example of the problem with most real estate reporting. Same data, polar opposite headlines. Reporters telling the story they want to tell, regardless of what is actually going on in the market. So did pending sales…