Friday, December 15, 2006

Not My Favorite Clown

by Osman Parvez
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Despite slow dial-up access, I spent a little time catching up on reading Mish this morning. He's quite bearish on housing and the economy in general, but I find his analysis is usually well researched. I don't always like what he has to say, but Mish is not a clown.

David Lereah, on the other hand, says and writes things that strongly suggest a big red nose. I don't know if you've noticed, but we don't quote the head economist of the NAR. We also do not republish his generic press releases. Why? Because his widely quoted sound bites sound like they're written by a PR firm. They're filled with contradictions and are sloppy and vague. His statements are not an accurate reflection of market conditions and his predictions have little value.

Mish calls it Lies, Deceit, and Greed and he's not the only one critical of David Lereah. There's even a whole blog dedicated to keeping an eye on him. The vast torrent of bad press Lereah gets on housing blogs and alternate media sources, much of it justified, demands his dismissal. I'm calling for a Donald Trump style "you're fired." If the National Association of Realtors is to have credibility, it's time to replace its mouthpiece.

p.s. One of the reasons we created this blog was to provide better local real estate information on Boulder and surrounding areas of Colorado. Macro economic conditions matter but big picture statistics, the kind you see published in the main stream media, don't paint an accurate picture of what's happening in local real estate. If you're a buyer or seller, local/neighborhood sales volume, prices, and inventory matter.

If you have any questions about Boulder real estate or have suggestions for topics, feel free to contact us. We'd love to hear from you.


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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate. 

1 comment:

  1. Well I'm impressed. That's two important RE posts out of Boulder the same day. In the other, Lou Barnes notes that the mortgage industry is presently ignoring the nontraditional guidance issued at the prodding of Congress by the banking regulators.

    "Housing still far from hitting bottom", by Lou Barnes, Inman / Mortgage101, December 15, 2006.

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