Just when you thought it was safe to go back in the water…
In a Chicago Tribune article today, David Lereah, chief economist of the National Association of Realtors, [He’s leaving, but not yet gone.] gave an interestingly schizophrenic interview. More bearish than usual, he’s still not giving up his old ways. Here’s a few quotes:
We’re in a real estate recession. I’m projecting the first [nationwide] price drop since the Great Depression," he said. "We’re going to have negative home prices in 2007.
I feel confident I did a very good job forecasting and reflected what was happening in the marketplace.
