Start Here

NAR's Yun Continues to Mislead on Housing

NAR Chief Economist Lawrence Yun continues to prove he's lost in the woods. I'm sure most of you who have followed the real estate market recall his long list of ridiculous predictions.

Do you remember when he claimed house prices would rebound in 2007? His quotes continue to supply stand-up comedians with new material.

One could reasonably argue that Yun is committing consumer fraud by trying to entice people to buy into a market that is poised to fall further. I suppose he thinks his ridiculous predictions will restore confidence in the real estate market.

If in fact his role is to spread optimism, the NAR should be legally required to post an appropriate disclaimer stating their real purpose.

Despite what Yun states, more affordable mortgages won't solve this mess. It's a bubble that must deflate. If it does not deflate fully now, it will down the road with much bigger consequences.

Mr. Yun, if you're going to try to remain optimistic throughout the crisis, at least do it within reason.

Excerpt:

A National Association of Realtors study shows house sales remained soft in March, but the organization is forecasting sales will begin to improve over the summer.

I wouldn't bet on it.

The median new-home price is estimated to fall 3.7 percent to $238,000 in 2008, then rise 5.4 percent in 2009 to $250,900.

Wrong

NAR said the 30-year fixed-rate mortgage is likely to increase gradually to 6.2 percent by the end of the year, and then average 6.3 percent in 2009.

What he is not telling you is that the period after 2009-2010 is critical since most ARMs will have reset by then and inflation will be sky-high. Stating that mortgage rates will be contained through 2009 is trivial. Why won't he tell us what will happen after 2010? Does he not realize that rates are set to soar or is he afraid to tell the truth?

Below are just a few of my forecasts for the real estate bubble made in 2006. Thus far, I have had no reason to change these estimates. Like all of my forecasts, these were made with the hope that no revisions would be needed, unlike the "experts" who continue to revise their estimates each day, dragging Americans further into the abyss with their reckless guidance.

  • Home Prices: from the peak in 2006, home prices will decline to pre-1999 levels.
  • Commercial real estate market will also suffer
  • Prime Mortgage foreclosures: the next trend in the housing correction will be a crisis in prime mortgages due to the weakness in the economy
  • Rental Market: set to heat up, good investment opportunities
  • Mortgage rates: will head north of 8% after 2010, and soar into double digits thereafter. This will cause home prices to sink further.
  • Most likely, the housing correction will last many years. While it may show signs of improvement by 2009 or 2010, this will be temporary. When millions of baby boomers scale down to condos and retirement communities over the next several years, the market will be flooded with existing home inventory.

I'm not claiming my forecasts will always be right. But I make them with the intent to position investors ahead of the curve rather than behind it. And when adjustments are needed I’ll make them. But so far, I haven’t needed to.

Finally, in my opinion, the banking crisis is far from over despite what you hear from the "experts."

In order for America to mount a real recovery, consumers need real wage growth; something they have not had since 1999. They need affordable gasoline, healthcare and food prices - something they have not had for several years. Consumers also need job stability - something that continues to fade.

Only after these things have been provided will Americans be fit to purchase a home responsibly. Financial irresponsibility is something all too familiar to Washington. And most consumers have learned well from them. I suppose Washington thinks they'll be able to borrow from foreign nations indefinitely. Well guess what? Those days are fading fast. See my May 4 article ("Stay Clear of Traditional Asset Classes") for more on the real estate and banking crisis.

  
 

NOTE: Mike Stathis predicted the precise details of the financial crisis in his 2006 book, America's Financial Apocalypse.

The Jewish Mafia REFUSED to publish this landmark book because it exposed the widespread fraud committed by the Jewish Mafia.

Instead, the Jewish Mafia published useless marketing books written by their broken clock tribemens (like Peter Schiff's useless book which was wrong about most things and was written a year AFTER Stathis' book).

Stathis also released a book focusing on strategies to profit from the real estate collapse in early 2007.

The Jewish media crime bosses prefer to simply ignore those who speak the truth and threaten to expose them as the best way to hide the scams from the public.

In contrast, the Jewish media crime bosses continuously promote Jewish con men and clowns who have terrible track records as a way to enrich them all while steering the audience to their sponsors, most of which are Jewish Wall Street and related firms. Figure it out folks. It's not rocket science.

 

View Mike Stathis' Track Record here, herehere, here, here, here and here.

 

 

Membership Resources

 


 

__________________________________________________________________________________________________________________

Mike Stathis holds the best investment forecasting track record in the world since 2006.

View Mike Stathis' Track Record here, herehere, here, here, here and here.

 

 
 

 

 


So why does the media continue to BAN Stathis? 

 

Why does the media constantly air con men who have lousy track records?

These are critical questions to be answered.

You need to confront the media with these questions. 

Watch the following videos and you will learn the answer to these questions:

You Will Lose Your Ass If You Listen To The Media

 

  

 

 

  

__________________________________________________________________________________________________________________

 

 

 

 

 

Print article

Restrictions Against Reproduction: No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without the prior written permission of the copyright owner and the Publisher.

These articles and commentaries cannot be reposted or used in any publications for which there is any revenue generated directly or indirectly. These articles cannot be used to enhance the viewer appeal of any website, including any ad revenue on the website, other than those sites for which specific written permission has been granted. Any such violations are unlawful and violators will be prosecuted in accordance with these laws.

Article 19 of the United Nations' Universal Declaration of Human Rights: Everyone has the right to freedom of opinion and expression; this right includes freedom to hold opinions without interference and to seek, receive and impart information and ideas through any media and regardless of frontiers.

This publication (written, audio and video) represents the commentary and/or criticisms from Mike Stathis or other individuals affiliated with Mike Stathis or AVA Investment Analytics (referred to hereafter as the “author”). Therefore, the commentary and/or criticisms only serve as an opinion and therefore should not be taken to be factual representations, regardless of what might be stated in these commentaries/criticisms. There is always a possibility that the author has made one or more unintentional errors, misspoke, misinterpreted information, and/or excluded information which might have altered the commentary and/or criticisms. Hence, you are advised to conduct your own independent investigations so that you can form your own conclusions. We encourage the public to contact us if we have made any errors in statements or assumptions. We also encourage the public to contact us if we have left out relevant information which might alter our conclusions. We cannot promise a response, but we will consider all valid information.


Housing Market Analysis from August 2012 Intelligent Investor

We have released an excerpt from the August 2012 Housing Market Analysis contained in the Intelligent Investor.

The Future of the U.S. Real Estate Market (Part 3)

Compared to the U.S., housing finance in Canada is less subsidized by the government. In fact, the Canadian government’s housing finance policies do not explicitly favor home ownership unlike th...

The Future of the U.S. Real Estate Market (Part 2)

Taken from the January 2012 Intelligent Investor   This is a continuation from Part 1 of this 3-part series. Click here to read Part 1.   Historical Examination of Home Ownership Ra...

The Future of the U.S. Real Estate Market (Intro)

Taken from the January 2012 Intelligent Investor   Overview Home ownership has been a vital component of Washington’s economic strategy for decades. The marketing end of this strate...

The Future of the U.S. Real Estate Market (Part 1)

Taken from the January 2012 Intelligent Investor   Boosting home ownership rates has been a goal shared by all previous U.S. Administrations. With the housing market still vulnerable, the Obama...

December 2011 U.S. Housing Market Overview

The real estate market continues to show little signs of life. Despite record-low mortgage rates and a collapse in home prices, builders see little demand for new homes due to the record-high overhang...

The Housing BIG Picture

Each month, the media lines up to read the results of the S&P/Case-Shiller Home Price Indices. This group of indices are generated and published by Standard & Poor's and Fiserv Inc. Keep in mi...

Pictures of The Netherlands Real Estate Market

About a month ago, I critiqued an article by Forbes which discussed U.S. cities "where the recession is ending."   Forbes remains a very popular publication despite the fact that it's very...

Is Dallas Really Doing as Well as Forbes States?

In the previous article I showed pictures of the real estate situation in Rotterdam, Netherlands submitted by a reader. As discussed in that piece, Forbes published an article about a m...

The Real Estate Bubble the Media Hid and Why I Was Banned

When many people mention the collapse these days, the most common response I've heard is "everyone knew it was coming."   Perhaps you've heard the same. 

Real Estate Confusion, or Lies?

Do you ever become confused over daily economic data? If not, then you probably aren’t paying close attention.   But that’s not necessarily a bad thing.   If you don&rsqu...

More Propaganda

Have a look at the latest piece of trash coming from Alan Zibel, the Associated Press' so-called real estate reporter.  First of all, he claims rel estate is in a "four-year slump."  ...

The State of the Nation's Housing

I was prepping for an interview later today on the real estate market and I ran across a nice piece from Harvard's Joint Center for Housing Studies release a couple of months ago.

Farewell Indy. What's Next? (Part 2)

Those of you who are familiar with my previous publications know my real estate forecasts remain unchanged since first published in 2006.

Farewell Indy. Who's Next? (Part 1)

On Friday, IndyMac joined the long and growing list of bankrupt mortgage companies (Accredited Home Lenders, Novastar Financial, Fremont General and dozens of others) that have been taken down by what...

Fannie & Freddie.Truth or Consequences. Part 2

Running Out of Options With the recent collapse in share price, both GSEs are going to have a very difficult time raising capital. You won’t find many buyers of the stock after its recent dive....

Fannie & Freddie: Truth or Consequences (Part 1)

Amidst speculation that Freddie and its big brother Fannie are facing insolvency, U.S. Treasury Secretary Paulson said the primary focus was supporting Fannie and Freddie "in their current form as the...

Finally, the Truth on Housing

You’ve all probably seen or heard about the recently released Harvard Housing study. Among other things, the report discusses the fact that the median wage-earner is unable to afford the...

NAR's Yun Continues to Mislead on Housing

NAR Chief Economist Lawrence Yun continues to prove he's lost in the woods. I'm sure most of you who have followed the real estate market recall his long list of ridiculous predictions. Do you rem...

0:00
0:00