NAR E-CON-omist
From Jeffrey P Snider's The Housing Story Really Inventory: Here is Yun last year in March 2015 describing that February disappointment:
I only note the ongoing appeal of snow for very slight comic value, instead it is this "tight supply" idea that demands further inquiry.
The Nattering One muses. Lawrence Yun's excuses and comedic value have been uber consistent over the years. Yet, those in the myopic bubble of that industry, drink the punch and are ever ebullient cheerleaders and believers.
Is the analysis poorly performed or just plain stupid? Nah, they say paid e-CON-omist sometimes means paid cheerleader or liar. Learning art and science from the preceding "chief" at the NAR, David Lereah (pronounced LIE-reah I believe?) didn't hurt either.
Wall Street can't hold a candle in the craft of lying and manipulating charts and data. In these cases, whatever is said or claimed, run the other way. Poor Cinderella's foot got shoehorned into the slipper to make it fit. Not by a cobbler, but by a home sales pimp. Can you divine the nickname for such? Example, Larry the **** ? That's good, I knew you could.
Severe below-freezing winter weather likely had an impact on sales as more moderate activity was observed in the Northeast and Midwest compared to other regions of the country…
With all indications pointing to a rate increase from the Federal Reserve this year - perhaps as early as this summer - affordability concerns could heighten as home prices and rents both continue to exceed wages.Here is Yun today:
Sales took a considerable step back in most of the country last month, and especially in the Northeast and Midwest. The lull in contract signings in January from the large East Coast blizzard, along with the slump in the stock market, may have played a role in February's lack of closings.
The overall demand for buying is still solid entering the busy spring season, but home prices and rents outpacing wages and anxiety about the health of the economy are holding back a segment of would-be buyers.Weather is an ongoing theme for February sales, as if winter in the Northeast and the Midwest is winter. Here is Yun in April 2014:
With ongoing job creation and some weather-delayed shopping activity, home sales should pick up, especially if inventory continues to improve and mortgage interest rates rise only modestly.
I only note the ongoing appeal of snow for very slight comic value, instead it is this "tight supply" idea that demands further inquiry.
The Nattering One muses. Lawrence Yun's excuses and comedic value have been uber consistent over the years. Yet, those in the myopic bubble of that industry, drink the punch and are ever ebullient cheerleaders and believers.
Wall Street can't hold a candle in the craft of lying and manipulating charts and data. In these cases, whatever is said or claimed, run the other way. Poor Cinderella's foot got shoehorned into the slipper to make it fit. Not by a cobbler, but by a home sales pimp. Can you divine the nickname for such? Example, Larry the **** ? That's good, I knew you could.
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