Out at the peak

Thursday, January 25, 2007

David Lereah is crossing his fingers and toes

Let's not rely on indicative data for the direction of the housing market. Let's just hope for a scenario and pray.

"David Lereah, chief economist for the Realtors, said that even with the December setback, he still believes that sales of existing homes have hit bottom and will start to gradually improve.


'With fingers and toes crossed, it appears that we have hit bottom in the existing home market,' he said."

How can we trust an "expert" if their prediction relies on hope?


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