NAR slammed

[IrvineCommuter_IHB]

I love this article from Motley's

www.fool.com/investing/dividends-income/2007/08/27/home-sales-worsen.aspx

My favorite quote from the article:

"Lace up the hip waders, Fools, because it's time once again for our monthly trip through the National Association of Realtors' home sales numbers. You know, the PR in which trained economists -- in service to an organization that wants a 6% cut on every used home sale in the U.S. -- spin elaborate fantasies that fly in the face of logic, but always just happen to support that noble, 6% goal."

 

[IrvineRenter_IHB]

The real kicker is that NAR President Pat Combs is caught in this press release begging for a Federal bailout for all those poor suckers stuck in bad loans -- as if she and her organization, through constant pumping of housing as an "investment," and denial of plain facts on sales and pricing, don't bear a giant share of the blame for putting these unfortunate buyers at risk. Hey Pat, how about you Realtors put up your own money to bail out these unfortunates? Maybe pledge half of your 6% cut for a year or two?

Great idea