Originally posted by us last week - "Fake" positive spin on real estate? - now the Wall Street Journal has an article about David Lereah, former chief economist for the National Association of Realtors (NAR).
The article gives additional insight into Mr. Lereah's background and his NAR position. The article states "Mr. Lereah, who says he left NAR voluntarily, says he was pressured by executives to issue optimistic forecasts -- then was left to shoulder the blame when things went sour." Did he anticipate the real estate market would be where it is today? Apparently not, says the article: "Mr. Lereah admits to one mistake: believing there would be no national housing crash."
To read more go here: WSJ online - David Lereah article