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Great News from the Stooges at the NAR



May 07, 2008 – Comments (1)

Go figure:

Pending Home Sales Hit Record Low in March-

The number of homes under contract for sale fell in March, hitting a record low for the second consecutive month, according to a report released Wednesday.

1 Comments – Post Your Own

#1) On May 07, 2008 at 10:26 AM, TMFBent (99.47) wrote:

These guys deserve to be tossed into a well. Look at the bogus headline they pin on a record low.

"Soft Existing-Home Sales Expected Near-Term But to Rise Midsummer"

Then, head buffoon, Lawrence Yun, says "Things are beginning to improve, but the availability of affordable mortgages is uneven around the country and sometimes within metropolitan areas."

Better yet, the NAR president tells us to look forward to a return to crummy lending practices, the very thing that got us into the mess we're in now.

He said, "The good news this week is there is some discussion toward relaxing some of the burdensome lending practices..."

Burdensome lending practices? Like what? Proving you can afford the house you want to buy? Coming up with a down payment so that, with equity at risk, you don't drop the keys in the mailbox and run as soon as paying your mortgage is inconvenient?

The National Association of Realtors has to be one of the most discredited, selfish, self-serving organizations in this country. Why politicians in Washington kowtow to its wishes is beyond me.

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