Yun to the Slaughterhouse: Not this time…
Author: Jay T. - The EditorPosted on April 30, 2008
Filed Under NAR - Forecasts
NAR Chief Economists are frequently blog fodder. I’ve done it, and almost every other real estate blogger that touches on national real estate news has done it. The bubble blogs regularly eviscerate NAR economists and forecasts.
It’s time to move past the previous NAR econ disaster David Lereah. He’s gone (thankfully) and Lawrence Yun has moved into the top spot.
And dare I say it, but Dr. Yun does seem to be coming out with a dose of reality regarding housing, and the piles of real estate statistics the NAR generates. One just has to read many of his “Economists Commentaries” to see he does inject reality into many of his musings on the state of the housing market.
The latest from Yun is in a USA Today article, “Experts, consumers share home market views”. (H/T to Jim Duncan via one of his clients)
In this article Yun states things like:
Consumers need to find out what is going on at the local level and not necessarily take national headline numbers as a point of reference. Sellers tend to be more stubborn in facing the reality of the market, so people who really need to sell need to come down on prices, given the high inventory and seller competition.
And:
2008 is a year of clean-up. Afterwards, better conditions.
It’s honest, real and I find it refreshing.
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3 Responses to “Yun to the Slaughterhouse: Not this time…”
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Thanks for bringing this up-I usually avoid the syrupy mess that is USA Today, but hopefully folks will read that article and think rationally about what’s going on in markets and micromarkets.
[…] until some of the NAR bigwigs started paying attention and actually commenting. In any case,when you find Jay saying good things about the Chief Economist at NAR, it’s probably something very good happening. I for one agree with […]
Yun is nearly as bad a predictor and shill as Lereah was. It is time for Yun to exit the scene.