From the leading newspaper of the world, the New York Times, we have Jeremy Peters reporting on: Home Prices Drop After 11-Year Ascent.
David Lereah, chief economist of the association, said he expects prices to continue to fall. “We do expect an adjustment in home prices to last several months, as we work through a buildup in the inventory of homes on the market,” he said in a written statement. “This is the price correction we’ve been expecting — with sales stabilizing, we should go back to positive price growth early next year.”
We've met this liar before. He claims that they've been expecting this "price correction"!
So why exactly did he write a book published in Feb 2006 titled Why the Real Estate Boom Will Not Bust?
Why don't these fucking journalists do their homework, and ask some tough questions to the "Chief Economist" of the NAR?
"Newspaper of record"? More like record incompetence!
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