The May issue of Realtor magazine is out. It includes an "economic report" by the National Association of Realtor’s chief economist, David Lereah. I thought I would share just a bit of his "Subprime Reckoning" article:
Now, about one in eight adjustable-rate loans (a quarter of which are subprime) totaling some $325 billion are [...]
Who says there’s no more land? Why just last Tuesday a Swiss Scientist announced the discovery of Gliese 581c, an earth-like globe just 20 light years away. Coming soon — The Space Cadet, starring Donald Trump!
Could Toll Brothers be developing Roswell NM’s Area 51? Any Realtors in Flying Saucer SUVs with "581 [...]
Long time readers know that I take exception to the MLS reports, and in particular to the reports from the National Association of Realtors. [OK, you only had to be a reader since yesterday to know that, but that’s beside the point.]
Part of the problem with these reports is the willingness of the cheerleaders to [...]