Tuesday, February 21, 2006

David Lereah's New Book 'Why the Real Estate Boom Will Not Bust'


David Lereah the chief economist of the National Association of Realtors is about to publish a new book that will be released February 21, 2006. The title of David Lereah's new book is Why the Real Estate Boom Will Not Bust.

His previous book was 'Are You Missing the Housing Boom,' which featured these words on the cover "Why home values and other real estate investments will climb through the end of the decade - and how to profit from them."

Catherine a poster on the Housing Bubble Blog wrote this:

I WISH TO HELL these economists and spokespeople for the NAR would add the disclaimer (which is their mission statement):

The core purpose of the NATIONAL ASSOCIATION OF REALTORS√É® is to help its members become more profitable and successful.

To media report‚…the representatives of the NAR are NOT unbiased and measured observers of housing econonics! They DO NOT have any inclination to enlighten or educate the general public beyond their stated purpose of furthering the profiteering of their dues paying members!

They are foxes in the henhouse! Blech!


Amen sister! It is despicable how the media generally treats proffesional liars like David Lereah, who have a vested interest in the housing bubble, as if they are unbiased experts on the subject. David Lereah is not paid the big bucks to enlighten the public, but rather to make Realtors more "profitable and successful".

I have not read David Lereah's new book. However, I am sure he spends much time reassuring would be real estate 'investors' that real estate is a good investment. Don't trust Lereah, listen to unbiased economic experts who are not paid shills.

Update: There has been some questions asked whether this is just a revised book or truly a new book. The image on the cover is the same. The title is different. Here are some more links.

Random House Author Spotlight: David Lereah

Random House: Why the Real Estate Boom Will Not Bust

15 comments:

  1. Is that for real? Is he really publishing such a book? Or am I just really gullible?

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  2. "Frankfurt also compares and contrasts bullshitting and lying. He argues that bullshitters misrepresent themselves to their audience not as liars do, that is, by deliberately making false claims about what is true. In fact, bullshit need not be untrue at all. Rather, bullshitters seek to convey a certain impression of themselves without being concerned about whether anything at all is true."

    http://en.wikipedia.org/wiki/On_Bullshit

    Perhaps I'm just getting old and crotchety, but was the bullshit always as thick as it is today?

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  3. Oh it is very real Lereah's new book. Check it out on amazon.

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  4. ha ha. very funny.

    subtitle: "when 1bdrm condos in DC are worth $1 million, they'll be worth $1 billion in NY and still be a bargain"

    www.dcbubble.blogspot.com

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  5. Unblievable. So does Lereah think he can forstall the inevitable simply by writing a bullshit book? Were we all wrong about his previous book and now this new book of his is the RE Bubble's equivalent to "Why The Stock Market Will Hit 30,000 By the End of the Decade" or whatever that book was that came out just before the crash?

    Marinite
    Marin Real Estate Bubble

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  6. it is the same book issued as a paperback, with a different (modified) title???

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  7. It is certainly the same cover with the exception of the title. What we need is someone to actually be willing to buy it and compare it to the previous book and see if there are any changes. I'd also be curious to what extent he qualifies his claims (so as to cover his arse). The timing of this edition is certainly suspicious.

    Marinite
    Marin Real Estate Bubble

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  8. This comment has been removed by a blog administrator.

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  9. His third book will be:

    Why debt is wealth

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  10. from the back cover:

    "The long-term fundamentals for housing remain strong into the forseeable future, claim Lereah. Far from a real estate "bubble", what we are experiencing today is a phenomenon that takes place only once every other generation: a long-term real estate market expansion."

    I guess the previous generation had what was known as the "roaring twenties". I guess Professor Lereah fails to mention that great expansions, if fueled by rampant speculation, are followed by great retractions and depressions.

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  11. The minute I see a quote attributed to someone who's income is tied to the housing market, I skip it.

    It's drivel. It's all wishful thinking. It's bullshit.

    These guys are just polishing brass on the Titanic. It's ALL going down soon anyway.

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  12. But if it all goes down, don't the realtors still get rich? Commission is commission. If the prices go down and people still sell.... what motive does he have to lie about upward values in housing?

    What is definitely true, is realtors profit from CHANGE, good or bad, boom or bust. Any heavy buying and selling helps them.

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  13. Two words come to mind here- Henry Blodgett.

    I love the reviews.

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  14. So, is it busting yet?

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