NAR's Chief Economist is Taking a Beating

By
Real Estate Agent with Atlanta Communities Real Estate Brokerage GREC #208281

 I learned about David Lereah, NAR's chief economist, during a recent class that I took.  The instructor put him out as a really smart guy worth listening to.  I had never heard of him so I decided to Google him and see what words of wisdom I might come across.

I was really surprised at the really negative stuff out there about him.  There are actually blogs devoted to keeping up with his activities and statements. A really negative story here that is summed up in the end:

It's not that Lereah is a bad economist; that's not even his job. Rather, his responsibilities are to use the tools of the economic profession, and apply them to shill for the NAR, a trade organization. After all, as Nutting notes,

..there are two universal truths at the National Association of Realtors: 1) It's always a good time to buy or sell a home; and 2) We've seen the worst of the housing market correction.

It's interesting to go back and look at some predictions that were made and see how they stack up with what actually happened.  Of course the housing bubble is a continuing story and no one really knows how it will end up. 

I guess the bottom line is to not put too much stock into predictions even if they are given by a very well educated economist.  It's still just an opinion.

Statements of David Lereah posted at David Lereah Watch

"We're going to drop significantly, but it's not a balloon bursting," Lereah says. "This is a soft landing for the housing markets." (Business Week May 23rd, 2006)

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"...housing activity will remain healthy for some time to come." - David Lereah, NAR's chief economist, October 28, 2005

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"The continuing shortages of housing inventory are driving the price gains. There is no evidence of bubbles popping." - David Lereah, NAR's chief economist, August 2005

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"We are really on track for a soft landing. There are no balloons popping." - David Lereah, NAR's chief economist, December 2005

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About the Author:  Tim Maitski has been a full time Realtor since 1999. He has sold several hundreds of homes in areas around metro Atlanta.  Tim started with RE/MAX Greater Atlanta and is now with Atlanta Communities Real Estate Brokerage.

 

Along with blogging on ActiveRain, he provides one of the best real estate websites in Atlanta at www.HomeAtlanta.com .

 

His proprietary  "Maitski Line Reports" chart out the absorption rates over the past 14 years in 37 different market areas.  Know when it's a good time to buy or a good time to sell.    

 

His online Property Tax Calculator allows you to compare property taxes in many counties and cities around the Atlanta area.  He provides the Atlanta MLS Power Search Tool that allows searches of homes using over 35 specific criteria.

 

Over the years, Tim has optimized his business so that he now can offer a huge 50% commission rebate to his buyers.  The more experience one gets, the easier the job becomes.

 

Tim also has a "Five Days to Sold" System that uses an intensive marketing blitz to create a showing frenzy that creates urgency and offers.

 

Tim is always looking to LinkIn with anyone who is interested in building their social network.

 

View Tim Maitski ●Atlanta Realtor●'s profile on LinkedIn

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