The Realtors' chief economist, David Lereah, said most of the cooling in the housing market has already happened.
"We can expect a historically strong housing market moving forward, earmarked by generally balanced conditions across the country and fairly stable levels of home sales with some month-to-month fluctuations," Lereah said.
"This normalization is healthy because it is taking a lot of the pressure off of the decision process for both home buyers and sellers -- pressure that was driving abnormal rates of price growth across much of the country over the last few years." Reuters 4/3/06
Bubble Meter is a national housing bubble blog dedicated to tracking the continuing decline of the housing bubble throughout the USA. It is a long and slow decline. Housing prices were simply unsustainable. National housing bubble coverage. Please join in the discussion.
Monday, April 03, 2006
Lereah on February Pending Sales
Responding to February Pending Home Sales Data:
The worst part is, he'll probably turn out to be right.
ReplyDeleteLOL... David Lereah should read today's news. I think he is several planets away from the sentiment of lenders.
ReplyDeletewho's got a guess for what Lereah's next career will be? Who will he be a spokesman for next?
I think he would be a natural in the fertilizer industry.