Blown Mortgage - Latest Comments in NAR’s Yun Spews Same Ole Bulls***t

Re: NAR’s Yun Spews Same Ole Bulls***t

morganb — Tue, 20 May 2008 12:50:05 -0000

It seems ludicrous that reporters would even consider the NAR data as
any close representation to the facts based on their track record of
repeated misrepresentations...

Re: NAR’s Yun Spews Same Ole Bulls***t

srascoff — Tue, 20 May 2008 00:32:14 -0000

Morgan,
Great post, as usual. I forwarded it to several journalists who have complained to me about the massive spin of NAR data.
It's also amusing timing from NAR. I don't know how he can in good conscience say that a recession is "not in the cards - no matter how you look at it". The National Association for Business Economists released a study today. From the Associated Press:
"A growing number of economists believe the country is on the brink of a recession or in one already, dragged down by all the problems in housing, credit and financial markets. Now 56 percent of the economists think the economy has started or will enter a recession this year. That's up from 45 percent in a survey in February."

Article is here: http://www.nytimes.com/aponline/business/AP-Wob...

Re: NAR’s Yun Spews Same Ole Bulls***t

morganb — Fri, 16 May 2008 18:06:03 -0000

you're right - it's just a chart that i have from old posts - so yes you
have to move the needle. the first wave is not the concern - it's the
second wave of higher-credit exotic loans that i'm referring to. i should
make that more clear in my post - thank you.

Re: NAR’s Yun Spews Same Ole Bulls***t

BLKBART — Fri, 16 May 2008 18:03:30 -0000

One question about the chart - does it start as of Jan. 2007 or Jan 2008? It says Data as of Jan 2007 below? If that the case, aren't we in month 17 not 5?

Re: NAR’s Yun Spews Same Ole Bulls***t

jbflory — Fri, 16 May 2008 12:56:28 -0000

What I found interesting was the the Wall Street Journal today reported that Fannie and Freddie are eliminating their provisions requiring extra down in declining markets. Note that the pressure on Fannie and Freddie to do this came from two groups that are severely impacted by the housing downturn, the NAR and the NAHB.

My comments at: www.mortgagebs.blogspot.com

I wonder how much credence Fannie and Freddie are putting into Yun's words?

Re: NAR’s Yun Spews Same Ole Bulls***t

Chris — Fri, 16 May 2008 10:29:31 -0000

He's got nothing to lose dude, hehe.