David Lereah, senior vice president and chief economist of the National Association of Realtors(R) for the past seven years, is joining Move Inc. as executive vice president of a new business entity, effective in mid-May.
Move Inc. operates NAR's official Web site, http://www.realtor.com/ and http://www.move.com/.
Not missing a beat, NAR's executive vice president and CEO, Dale Stinton, announced that:
"David is an expert on real estate and the economy, and his stature and expertiseWithin a few weeks, David Lereah will no longer be working at the National Association of Realtors. Mr. Lereah has lost credibility during the past few years, as he cheered the housing bubble and then called a 'bottom' at least four times. Was he forced to leave because he lost credibility?
enhanced NAR's position as the most credible source on economic and policy issues affecting the housing industry in the United States and abroad. We wish him the greatest success in his new endeavor."
Soon, Mr. Lereah will be much less quoted in the mainstream press. Mr. Learah's reign of half truths, manipulations and cheerleading will soon be over.