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NAR job posting – needed: economist, spokesman, human punching bag

David Lereah, chief economist for the National Association of Realtors, has announced his resignation. He will be joining, the real estate listing website run by his old boss, Allan Dalton. (That’s David Lereah, which rhymes with “diarrhea” according to at least one blogger.)

Jonathan J Miller has a great post about the man – it sums up in a nutshell what Lereah had to do for NAR, and how NAR missed a grand opportunity over the past several years to become the industry’s #1 pro-consumer advocate.

The US housing market went through the largest property boom in history and is now weakening. He did what he thought he was supposed to do: promote his trade organization through market statistics and commentary. Unfortunately, his style did not translate well when market conditions weakened. He became a cheerleader rather than an insight provider.

(I’d say he did what THEY told him to do, not what he THOUGHT he was supposed to do … but I have no idea whether or not he agreed with what he said or was simply the mouthpiece.)

One thing I never got over through all this was the loss of opportunity for the NAR to gain credibility with consumers. Instead of spinning so blatently, NAR could have taken the torch and become the market leaders for real estate expertise. The old school of thought that if you say it often enough and loud enough, people start to believe prevailed.

The excess spin that was generated seemed to be fully embraced by a large portion of the NAR membership but really served to further distance the trade group from the public.

More: David Lereah Resigns, Spin Takes A Smoke – By Jonathan J. Miller, Matrix

7 Responses to NAR job posting – needed: economist, spokesman, human punching bag

  • So the question now is will the NAR install a new

    socket puppet or learn from their mistakes?

  • If he was smart he’d do the all american thing, tell all(they

    told me what to say), write a book, then maybe a movie. If that guy was an economist, I’m going to

    start calling myself a brain surgeon, hell maybe even a rocket scientist. They’ll definately hire

    a new sock puppet, his mini-me, then spin, spin, spin

  • Everything we need to know about TCDL (The Corrupt David Lehreah) can be found on the

    “David Lereah Watch” blog ( The man is a shameless liar who

    fell all over himself to call the market bottom each month or so since the Housing Bubble peaked

    (late 2005 to early 2006). He is not an economist since economics would have told him that prices

    couldn’t boom for much longer (where the bubbliest markets have median homes at 8 times the median

    income, and more), and even if they did, the bust that followed would be either longer or deeper.

    He’s just a paid shill for mortgage brokers. He has ZERO credibility. Furthermore … if the

    blogs are correct, his own “investment properties” have lost value and he must be upside-down in

    them as well. Good riddance to him, and our gain is a loss for Move Inc.

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