According to David Lereah, the National Association of Realtors chief economist, home sales will remain historically high through 2007. Lereah, "We've entered a more sustainable period of home sales now, and we expect greater support for prices over time as inventory levels are eventually drawn down."
David Jackson, an e Blogger from Maryland, says of David Lereah "Mr. Lereah tells half truths and manipulates facts and figures. He cannot be trusted as he is a paid shill." Jackson's blogspot David Lereah Watch Blog was recently mentioned in the Wall Street Journal in an article titled 'Renters Gloat Over Housing Slump'. In the article it states "Mr. Jackson has maintained a blog (davidlereahwatch.blogspot.com) devoted entirely to vilifying Mr. Lereah." Wow, all that because a guy could not purchase a property?
As it amazes me how an economist can make an across the board (or across the country) statement such as the above, I hardly think it requires a blog site to vilify the person who made the statement. So, in looking at the statistics from the Heartland MLS, sales for December, in both the new home market and the resale market, were down from the same time last year by approx. 22%. Plus, the average sale price, for that same time period comparison, went up by 4%...hhmmm...I had better get working on a site like Jacksons.(Sarcasm)