The National Association of Realtors: 'It's always the time to buy!'

I recently saw a commercial paid for by the National Association of Realtors informing us that no matter what anyone says, it's a great time to buy.

Maybe that's true: With interest rates this low and a wide selection of homes available in many markets, I think it probably is. But the problem is that the National Association of Realtors has been running these ads forever. In a February, 2008 commercial, the NAR broadcast a commercial explaining that buying a home is "a good move, for your family, and toward building long-term wealth?" In most markets, that turned out not to be the case, with many buyers who put 20% down already under water.

In 2007, the NAR ran a commercial proclaiming that "when you have a family it's always a good time to buy," which is total, complete, unmitigated crap. Buying a home that's about to plunge in value, wiping out your down payment and trapping you in a house you would need cash to sell is not good for your family.