Items Tagged with 'David Lereah'

ARTICLES

  • Selling Homes After Government Intervention

    The National Association of Realtors (NAR) released some exciting news this week -- exciting to them, at any rate. The US government tax credit motivated more homebuyers to come to the closing table in April, with existing-home sales rising 7.6% to 5.77m units, up from 5.36m in March. That's up 22.8% from last April.
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  • Lereah Sees Far-Off Recovery

    Housing sales may hover near the bottom, but market recovery remains a long way off, says economist and author David Lereah in a media statement today that illustrates a surprisingly more conservative market view than he is known for.
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  • Eyes on Senate; Industry Group Pleads for Home Buyer Stimulus

    With the $800 billion-plus economic stimulus package trickling through the House and Senate, at least one industry group is pleading the case for a substantial home buyer stimulus credit to spark demand for and reduce supply of housing amid heightened economic recession. "What we are seeing is some of the worst housing news that we've seen since the Great Depression," said National Association of Home Builders (NAHB) chief economist David Crowe at a media conference Wednesday. "We continue to see sales fall, starts fall, prices fall and general economic conditions fall."
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  • Half of Americans Oppose Bailout for Troubled Homeowners

    Underscoring just how divisive the nation's mortgage crisis has become, a new study released Tuesday morning finds that 51 percent of Americans oppose using Federal bailout funds to help pay the mortgages of homeowners who are in default; 43 percent, in contrast, favor helping borrowers in trouble.
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  • Existing Home Sales Continue Freefall

    Sales of previously-owned U.S. homes fell to a 10-year low in June, according to data released Thursday by the National Association of Realtors. Existing-home sales -- which include single-family, townhomes, condominiums and co-ops -- fell 2.6 percent to a seasonally-adjusted annual rate of 4.86 million units in June from a pace of 4.99 million in May, and are 15.5 percent lower than the 5.75 million-unit rate recorded one year earlier.
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  • Worth looking back on

    As the housing crisis spins onward, we thought HW readers might enjoy a blast from the past -- 2004, to be exact. That's the year the now-defunct Homeownership Alliance put out a report titled "America’s Home Forecast: The Next Decade for Housing and Mortgage Finance." The authors include none other than David Berson, David Lereah, Paul Merski, Frank Nothaft, and David Seiders; it's certainly amusing now to think about the fact that the NAR and Fannie and Freddie were once much more closely aligned than they are today.
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  • Existing Home Sales Fall 11.4 Percent; Inventory Numbers Stay at 15-Year High

    The NAR's existing homes report is out today, which shows sales volume off 11.4 percent from year-ago levels, registering an annualized 5.75 million units in June. The June numbers are off 3.6 percent from May's downwardly revised sales numbers, the NAR said, and represent the slowest pace of existing home sales in roughly five years. The national median existing-home price for all housing types was $230,100 in June, up 0.3 percent from June 2006 when the median was $229,300.
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  • Where Did David Lereah Go?

    Read this post over at Housing Doom, and you'll be asking yourself: what? Talk about doing a 180, and implying that the NAR paid him to be falsely optimistic. I'm actually now really interested in what this guy has to say AFTER he leaves the NAR in a few weeks....
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  • Sidebar: NAR, Lereah Parting Ways

    Before getting to a discussion of things that matter, I thought this was interesting: News came out yesterday -- most of you probably saw it by now -- that the maddeningly upbeat economist David Lereah is on his way out of his post at the National Association of Realtors.
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