Monday, May 7, 2007

If you trust realtors, you are delusional.

Here's why:

If the NAR chief economist David Lereah, realtor posterboy extraordinaire, and the more prolific cheerleader of the American real estate industry boom over the last 5 years, author of infamous books like these:

then stated in late 2006 that the market was now in correction mode, but that we were all certain to experience a "soft landing", who then stated in late December 2006 and again in February 2007 that "we've hit bottom" already.

Now it is May 7, 2007. Mr. Lereah already has his bags packed up, ready to leave the real estate big leagues of the National Association of Realtors, and join a new, hole-in-the wall, real estate sales organization called Move, Inc.

But the final act in the play has not yet been shown. Prior to providing his last major NAR speech at an upcoming Washington real estate conference, the Bob-Saget-Look-Alike, Mr. Lereah, had the audacity to make this admission - probably the most damning one ever about the current American real estate market.

"Ask him in a couple of weeks", indeed! I think by now, Mr. Lereah, we already know what your duplicitous reply will be.

Bob Saget

Also, Bob Saget

So, I ask you: how can any prospective homebuyer in America today turn to a home realtor in good faith anymore for "help"in purchasing a home, assist them making the right choice, and work to protect his financial interests?

I submit to you that he cannot. Not anymore. The game is up.

Bob Saget has played you all, the home consumer, the realtor, the mortgage lender.

Time for the theme music to start. This really is America's Funniest Home Videos.

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