David Lereah's presentation The Road to Recovery (ppt), slide number 1, at the Realtor's Annual Convention in New Orleans (Nardi Gras). It is ironic that there is a steep treacherous cliff on the edge of the road and clouds ahead.
Announcing that it is a 'Unique Housing Cycle,' Lereah blames the current declines on affordability problems, investor flight, psychology and a media scare.
Sidelined Buyers: Lereah tells potential buyer that the 'Buyer's Market Will Soon End.' Lereah is once again using scare tactics to sell houses. Lereah is a disgrace. His real estate books have been discredited. Lereah, will go down in infamy as the housing bubble continues to pop. Lereah is the new Irving Fisher.
David Lererah mocks the 'Negative Media'.
'Buyers Are Missing Opportunities If They Postpone.' He asks "Can you afford NOT to lock in now?" given today's low interest rates. Does Lereah have no shame?
Lereah's last slide is a quote from Greenspan saying that "Most of the negatives in housing are probably behind us. The fourth quarter should be reasonably good, certainly better than the third quarter."
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