As of this morning, the National Association of Realtors's (NAR) Blog has not been updated since May 23rd which is 13 days ago. It is a relatively new blog having been launched on April 11.
Have they given up?
What's up Mr. Lereah?
Having a little trouble keeping up with the housing bubble bloggers?
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David,
ReplyDeleteI note that you have not updated your blog posting with the lovely, but inaccurate, chart of Mr. Lereah's property values. You may want to make sure your glass house is in order before tossing around stones.
why is it innacurate?
ReplyDeleteIt's inaccurate because the house's value has gone UP again. It was something I explained in my post on that thread.
ReplyDeleteI get a kick out of this statement on their blog:
ReplyDelete"NAR disclaims responsibility for any of the content or opinions expressed on this blog, including, but not limited to content or opinions regarding any products or service mentioned on the blog.
NAR disclaims liability for any damages or losses, direct or indirect, that may result from use of or reliance on information contained in the blog."
Basically, if they scam you into buying real estate that loses value, they're not responsible. I know some will claim that it's just standard legalese, but come on, they should put their money where their mouth is.
Curious to know what Fritz expects for the housing market 3 months, 6 months, and 1 year out regarding inventories, and pricing in the once hot markets. Not looking of stats, just a general opinion.
ReplyDeleteThe point I was trying to make above about NAR's denial of responsibility is that most blogs don't feel the need for this "I'm not responsible for what I say or do" mentality. BusinessWeek is a large organization with a housing blog. They don't make this kind of claim. Why does NAR feel the need for it?
ReplyDeleteProbably for the same reason that irons have a label on them saying to not try to iron your clothes while you're wearing the clothes - all to avoid lawsuits from idiots.
ReplyDeleteOf course, the Northern Virginia Bubble Blog hasn't done anything since May 19th. I guess if I were partisan and lame, I'd say they're scared of the overwhelming evidence provided by David Lerah and the NAR.:)
ReplyDeleteBut I'm not, so I won't.
24 hours later and still no correction to David's inaccurate Lereah house value chart.
ReplyDeleteJack Bauer could do much better.
I'll investigate!
ReplyDeletefritz,
ReplyDeleteI agree that according to zillow Mr. Lereah's house has rebound recently. When I took the 5 yr chart this rebound in price had not yet been reflected in the zillow graph. Thanks for pointing this out.