Reuters reports the exit of Mr. Diarrhoea, Gonorrhea, Liarreah in this article: Realtors' upbeat economist, Lereah, steps down.
The economist who prodded investors into the U.S. housing boom and has been skewered by bloggers during the bust is leaving a top real estate trade association, the group said Monday.
David Lereah, the author of 'Are You Missing the Real Estate Boom?', will leave the the National Association of Realtors' by the middle of next month after serving as the head economist for seven years, a spokesman said.
After leaving NAR, Lereah will become a senior executive at Move Inc., an online real estate service, said Lucien Salvant of the real estate agent trade group.
One blog, David Lereah Watch, cites passages from Lereah's books and his encouraging words about the housing market and asks him to "admit he cheerleaded this destructive housing bubble."
In October, Lereah said that he expected "sales activity to pick up early next year." In recent months, Lereah has pushed his expectations for recovery deeper into 2007 and has trimmed his forecast for home sales for the year.
Salvant said Lereah was traveling Monday and could not be reached but noted that the economist "works for the Realtors' association and people should not be surprised that he would take a Realtors' point of view."
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