NAR’s Yun has no idea what he’s saying
Lawrence Yun, chief economist and vice president of research for the National Association of Realtors, September 1, 2007: Predictions are always risky, but I’m going out on a limb to say existing-home sales will improve markedly by the fourth quarter. So keep your eyes on the horizon. There are forces at play that will turn the market around, and buyers who make the commitment now could be smiling next year.
Lawrence Yun, chief economist and vice president of research for the National Association of Realtors, September 11, 2007: The National Association of Realtors’ revised monthly prediction calls for U.S. existing home sales of 5.9 million in 2007, down from 6.5 million last year. The forecast was below last month’s prediction of a 6.8 percent drop.
Now, you can parse his words to conclude his more current comments don’t contradict what he said, just weeks prior, but you know, that just doesn’t fly.
Oh, Yun. You must have kept them in stitches at economist college.
