At least Larry Yun, Chief Economist for NAR, isn’t using the word “Temporary” in his monthly pronouncement  that included the idea that subprime isn’t really that big of a deal.
“There’s too much focus on the national figures,” Yun said. “National figures can dampen consumer confidence.”
- NAR posts national housing stats on a series of metrics every month.
“The subprime mess is a Wall Street mess,” Yun said. “They made a huge gamble, and they lost. Subprime is a past event that’s unrelated to homebuying.“
- Subprime and the credit crunch that followed has become such a large issue today that the president announced a plan  for economic relief and the Fed chairman hinted at sharp rate cuts , primarily because of housing weakness.
“Denver is one of the markets to watch,” Yun said. “Austin (Texas) already has seen a boom. Denver will be among the next markets to see a boom.”
- Since this was a speech he gave in Denver, I can’t help but think its a fill in the blank speech. “_______________________ is one of the markets to watch”
But seriously, this misinformation to consumers has got to stop. I can’t believe this
advice hard core spin is being sanctioned by the trade group. Again, missing a golden opportunity to connect with consumers.