… than watching the National Association of Realtors (NAR) change its tune these days. The latest news release from this sunny-Jim industry group finally fesses up to its past fiction, but even when it admits the bubble's going to pop, it can't muster the courage to just come out and say it. … the NAR is full of it and will spin the numbers any way it can to keep up the pleasant fiction that all is well. … [T]he cracks began to show in subsequent remarks from NAR 'Chief Economist' David Lereah. The head outfit that ridiculed the idea of a housing bubble for years is now crying for Ben Bernanke to bring it back. … It should have been completely obvious to anyone with a loan calculator and a glance at wage increases that those months of industry bubble denials were just wishful thinking." Business Week also captured Lereah's most famous quote: "The steady improvement in [home] sales will support price appreciation...[despite] all the wild projections by academics, Wall Street analysts, and others in the media." Lereah was Chief Economist at the National Association of Realtors when he said this. The day was Jan 10, 2007, just as housing prices steadily worsened falling even farther than many skeptics had predicted. See also National Association of Realtors Real estate trends United States housing bubble Notes External links Reecon Advisors, LLC Move Inc. David Lereah Watch https://www.wsj.com/articles/SB123152099299568447 American real estate businesspeople American economists American University alumni University of Virginia alumni Year of birth missing (living people) Living people