Thursday, October 27, 2005

David Lereah: Housing Boom becoming Expansion

David Lereah who is the chief economist of the National Association of Realtors said the housing market is entering a period of transition. "The underlying fundamentals of the housing market are solid and sales will stay historically strong, but they will trend modestly down from current peaks," he said. "Masked by the data are early signs that housing is starting to wind down from a boom and will transition into an expansion" - in other words, a soft landing

Sure. Keep drinking the kool aid. Actually, I think Lereah knows better. He is one of the people mixing the kool aid.

1 comment:

  1. I agree totally- I want to see Lereah standing in the rubble a year from now sipping not on Kool Aid, but straight up Martini's at home when he is never heard from again. Rates are going up. and with record high home prices in the most important geographic regions of the country (northeastern megalopolis, California and the other Pacific coast states, also AZ and NV. Do not forgot Florida and Islands in the midwest- this spells disaster-despite Ben Bernanke's 'solid fundementals of strong income and job growth'-yeah sure....... in Connecticut we had had no job growth here in years, but since 2000, median prices are up over 60%. Ben get together with David- by the tim this is over you will need more then 2 martini's...........