Realtors Losing Cheerleader-in-Chief; Bloggers Rejoice

There is a kind of grave-dancing going on tonight at housing bubble blogs -- the man housing bubble bloggers love to hate, and to ridicule, is moving on. That would be David Lereah, chief economist for the National Association of Realtors, the most prominent spokesman and cheerleader for the home-selling industry. The NAR announced he will leave next month (that's soon, no?) to join a company known as Move Inc. Lereah's 2005 book, which came out when prices were still rising sharply, asked: "Are You Missing the Real Estate Boom?: Why Home Values and Other Real Estate Investments Will Climb Through the End of the Decade -- and How to Profit From Them." A sampling of reaction to Lereah's departue: At TheHousingBubbleBlog.com, commenter "Eastofwest" remarks: "I’m speechless..if that’s not the ringin’ of the final bell, I don’t know what is..Now I’m waiting for someone to go after ‘realestatenevergoesdown-Dave’. I have to think there will be a mob with torches looking for an effigy to burn..he’s gonna be the poster child of animosity." At DavidLereahWatch.com: "Mr. Lereah has lost credibility during the past few years, as he cheered the housing bubble and then called a 'bottom' at least four times. Was he forced to leave because he lost credibility?" For the record, an NAR spokesman is quoted saying Lereah is widely respected and did an excellent job. Thoughts? Comments?

Comments

[BottomFisher]

Good work on your blog. Gee, what will we do without David L on the blogs?
He could at least appointed his next best housing bubble replacement.