Lereah Leaving

Lereah Leaving

On April 30, 2007, In Uncategorized, By Chuck Ponzi

Discredited David Lereah is leaving the NAR after making blunderous predictions on the future direction of the housing market.

His new home? Move.com.

Time to sell that condo.

He can afford the loss.

Insert pun here:

8 Responses to “Lereah Leaving”

JWM in SD says:

April 30, 2007 at 9:45 am

Yeah, like we didn’t see that coming from a mile away…
LAEF2 says:

April 30, 2007 at 10:01 am

Gotta love to see the spin move. So NAR cuts their ties to the resident spin boy. As things spiral out of control he is let go and the team get a pass.

It was that DL character giving us bad advice… I can just hear it now.
SoCalwatcher says:

April 30, 2007 at 12:12 pm

He’s Movin’ on up like George and Weezy…
Judicious1 says:

April 30, 2007 at 1:34 pm

This has a Jeff Skilling sense of timing to it, doesn’t it?
LAEF2 says:

April 30, 2007 at 2:18 pm

I have this funny little vision of a small furry animal leaving the ship.
Kurtz101 says:

May 1, 2007 at 7:51 pm

Once Lereah starts it’ll be known as “BowelMove.com.”
LAEF2 says:

May 2, 2007 at 5:59 am

Hey,

Looks like another rat headed down the docklines… Freddie Mac lost its COO.

I bet he needed two weeks to erase emails and get the heck out.
Ames Tiedeman says:

December 20, 2008 at 10:55 am

Many of us predicted exactly what has happened to California, years ago.

Take Housing:

Back in 1998 and even as late as 2002 when everyone was saying to buy homes in places like Los Angeles and San Diego many of us looked with bewilderment. Home prices in these areas were over valued back then and they still are today. The income to housing cost data shows that the median house should cost around 200k in San Diego. This is exactly where prices are headed. Prices will continue to fall with a few small bounces in certain areas, but you will not see a real bottom until 2012 or 2013. When this bottom is put it you will not see a ramp up of any sort. Adjusted for inflation homes in California, particularly in Los Angeles and San Diego will be lower 15 years from now. There is no catalyst for a California housing boom. California no longer gets the huge influx of migrants from other parts of the United States. These educated folk that California could count on since after WWII no longer chose California. In fact, the educated are leaving California in droves, destined for much better managed states such as Texas, Colorado, Oregon, Utah, Nevada, and Arizona. Georgia and the Carolina’s as well. The demographic shift spells longer term, certain trouble for Southern California real estate. The uneducated hispanic population is not going to produce the wealth needed to support sky high home valuations. This will begin to be evident by 2025. Those who chose to call this comment racist, then be my guest. I don’t care. The long term forecast for the entire state of California is dismal at best.