From Forbes, we have Greg Levine writing on Realtors' Lereah Blames Inventories For Price Sloth.
He's the chief economist at the National Association of Realtors (NAR), which reported Tuesday that sales of existing homes and condominiums slid 1.3% last month, to a seasonally adjusted annual rate of 6.62 million units.
Lereah in January assured that, rather than a bubble-pop and consequent recession, the housing arena is coming in for a "soft landing." One hopes this leveling-off will indeed be gradual, as the slowdown is definitely happening:
I blame the sun for warm weather. I also blame the rain for wet pavements. I blame.... you get the idea!
Also, can anyone say "conflict of interest"?
This man is not an economist, he's a paid shill for the NAR. No matter which way things go, he's paid to spin the bullshit.
He said urban sales are going downhill in New York City, Boston, Chicago and Minneapolis; while growing markets can be found in Syracuse and Pittsburgh.
Syracuse? Pittsburgh?
Totally "have been" industrial towns where even the last remnant of industry has been offshored?
Where are the wages that cause rising prices going to come from?
Spin away, spinmeister!
Sooner or later, the blowjobs you're giving journalists are gonna give you the clap, and when the winds turn, try not to beshit yourself when the lies you've told come back as lawsuits.
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