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NARcasting The Future: January 2008 - further revisions to t

 
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PostPosted: Wed Jan 09, 2008 3:02 pm GMT    Post subject: NARcasting The Future: January 2008 - further revisions to t Reply with quote
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Description: NARcasting The Future: January 2008 - further revisions to the NAR's 2007 forecast
URL: http://paper-money.blogspot.com/2008/01/narcasting-future-january-2007.html
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=1375

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PostPosted: Wed Jan 09, 2008 3:58 pm GMT    Post subject: Reply with quote
When ever I need a good laugh ,
I drift over to Realtor.org to read their latest press release

Laughing Laughing Laughing

http://www.realtor.org/press_room/news_releases/2008/pshi_jan08_stable_existing_home_sales.html

The economist for the NAR is more biased
than a Republican pundit on FOX TV Exclamation
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PostPosted: Thu Jan 10, 2008 5:06 am GMT    Post subject: Reply with quote
Quote:
[The chief economist for the National Association of Realtors said the real estate market already has hit bottom. The group projects prices to hold steady in 2008, and sales to increase slightly, before the market roars back in 2009.

The realtors association last year predicted that 2006 was the bottom for the real estate market, and that sales volume and prices both would rise in 2007. In fact, the trade group overestimated sales by 700,000 units, and prices dropped 2 percent.

Laughing Laughing
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PostPosted: Thu Jan 10, 2008 7:31 am GMT    Post subject: Reply with quote
Quote:
NAR chief economist Lawrence Yun said sales of used homes should recover later in 2008.
He said consumers are waiting for signs of market stabilization.
"The exact timing and the strength of a home sales recovery is a bit uncertain," Mr. Yun said.
"A meaningful recovery in existing-home sales could occur as early as this spring,
or it may be further delayed toward late 2008."


This guy is great Rolling Eyes
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