Friday Flashback: Lawrence Yun: “Seattle is Underpriced”

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 […]

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 […]

Friday Flashback: NAR Propaganda Montage

Here’s a little montage of commercials from the National Association of REALTORs® over the last few years. My favorite is the one with the family literally sitting on a fence. The last one isn’t technically a “flashback” since it’s currently airing, but the message that anyone who doesn’t buy a house must hate America and […]

Friday Flashback: NAR’s Laughable Seattle “Analysis”

A reader emailed me recently to remind me of this amusing document published by the National Association of Realtors in 2006: Home Price Analysis for Seattle-Tacoma-Bellevue (pdf). Quoting: With home prices rising strongly in most parts of the country, there has been widespread media coverage on the possibility of a housing market bust. A thorough […]