Friday Flashback: Should Have Listened to Mr. Sohn

From a NWMLS talking points memo that was circulated in June 2006: …the forecasts for housing price growth are calling for booming values in the state of Washington. For the June issue of MONEY Magazine, Fiserv Lending Solutions and Moody’s provided forecasts for the coming 12 months for 380 metro areas – they predict […]

Friday Flashback: John L. Scott’s 2008 “Buy Smart Zone”

Today’s Friday Flashback comes to us courtesy of John L. Scott (“Your Trusted Real Estate Resource”), who published this delightful “white paper” in early 2008, titled Why Now Is A Smart Time To Buy (pdf). Here are some selected excerpts: FACT: The housing market is undergoing a natural cyclical correction. …unlike what the media would […]

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% […]

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 […]

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 […]

The Curious “Logic” of Home Salesmen

J. Lennox Scott in March (original post deleted, screenshot here): …if interest rates increase by one-half point from the current rate, as has been predicted by many economists, a buyer with a loan amount of $200,000 will lose approximately $11,000 in purchasing power. … The interest rate differential can be applied to all buyers in […]