NAR Caught Inflating Sales Figures

[James H. Bushart]

Go figure.

[Gary Farnsworth]

I saw it. I knew it. I even messaged about it here on this board. Typical. Just an association trying to make itself look good, but reality is setting in. Here in KC, there are over 26,000 homes for sale, including foreclosures, and in January of this year, only 1,200 sold.

http://www.reeceandnichols.com/pages...rket-trends-kc

You can see on this graph where the tax credit stopped. Sales are very low here, and flat. May be the same in most other areas of the U.S.

Now, they say that new home building is up 15%.

http://www.msnbc.msn.com/id/41618624/

Too much "forecasting" causing inflated figures, then reality sets in, and figures get revised. Sad how things are no longer what they really are. Media is pumping what they want.

[James H. Bushart]

Frankly, I think the motivation behind most of their hype is not so much to lie to consumers as it is to keep the part time used house salesmen (who makes up about 80% of the sales force) from bailing out of the industry and returning to their former jobs of selling vacuum cleaners, mens' suits, and the like. Without the members paying dues...how do they finance their agenda?

[Gary Farnsworth]

I have heard that over 2,000 RE agents in eastern Kansas and western Missouri did not renew their RE licenses.

[Gary Farnsworth]

http://www.msnbc.msn.com/id/41715313...s-real_estate/

Article out today just confirms our thoughts.

[James H. Bushart]

They are struggling to conceal the fact that we are about to see another sharp drop in the value of residential dwellings this summer. By the end of this year, the glut of available housing will be bigger than it is, now.

[Nick Gromicko]

By the end of this year, the glut of available housing will be bigger than it is, now.

Good. Drop prices some more. We're almost about right.

Condolences to those who made stock market moves based on NAR's B.S. data, but hang in there, InterNACHI is surveying members about the number of inspections they do each week and will be releasing it's own monthly index soon.

[James H. Bushart]

Originally Posted by gromicko

Good. Drop prices some more. We're almost about right.

Agreed.

Inspectors don't work on commission.

[Nick Gromicko]

Our new index will be the ultimate leading indicator.

[Nick Gromicko]

Bloomberg will be publishing it each month.

[Gary Farnsworth]

I have several friends and relatives who call me often to ask how my business is doing. They base their investments on how my business is for the previous month from past years. It is amazing how it trends reality, and not by what the media says.

So far this month, February, up slightly from 2010, but not by much. If oil hits $120 a barrel, give me directions to the soup line.

[Jeffrey R. Jonas]

Originally Posted by gfarnsworth

If oil hits $120 a barrel, give me directions to the soup line.

Not if,but when!

[James A. Levy]

Originally Posted by gromicko

Our new index will be the ultimate leading indicator.

You must be kidding!!!! Like that will be accurate data!

[Nick Gromicko]

It's very accurate. No one puts out hundreds of dollars for a home inspection unless they are intending to buy a home. We capture this information long before closed transactions data comes out.

[Linas Dapkus]

Chicago home ownership is at an eight year low. Rental market is good.