Bloggers sock it to National Association of Realtors economists
He has since been replaced by Lawrence Yun, and 2 bloggers are captivating the internet with sites devoted to chronicling their shenanigans. On David Lereah Watch, Mr. Lereah is described as someone who "cannot be trusted as he is a paid shill." Similarly, Lawrence Yun Watch lists its purpose as following "the NAR's hack as he denies the housing bubble and crash."
The pedestal that these guys were placed on during the bubble is puzzling. I have a hard time understanding why anyone would take seriously the prognostications of someone who is paid by an organization whose members profit directly from rising home prices. It reminds me of Henry Blodget, except the conflict of interest is even more obvious.