Quick Take: Housing's Biggest Cheerleader Moves

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I've written over and over again about the housing-market pumping in which National Association of Realtors Chief Economist David Lereah has engaged. His ability to make bad predictions was, to my mind, only surpassed by the magnitude of his bombast, or perhaps his ill timing.

This is a guy who looked at dwindling numbers from the likes of Hovnanian Enterprises (NYSE: HOV) and KB Home (NYSE: KBH), saw subprimes melt down at New Century Financial, watched Alt-A get worse for the likes of Indymac (NYSE: NDE) and Motley Fool Income Investor pick Washington Mutual (NYSE: WM), yet consistently told the press that all was well. I still have no idea how self-respecting business journalists anywhere could have parroted his biased misinformation for so long.

For those of us who simultaneously looked forward to and loathed his monthly trade-group propaganda, today is a day of mixed emotions. Apparently, Lereah is moving on to Move (Nasdaq: MOVE). Move runs Internet real estate sites, something I think is a pretty bad business to be in, unless you're The Google (Nasdaq: GOOG) and can throw something together that just might up-end the entire apple cart. According to an NAR press release, Lereah will be in charge of a new venture. Note to self: Look at Move and get ready to short.

Related Foolishness:

• House Price Drop? That's Unpossible!
• Realtors Under Fire
• Housing Cheerleaders Losing Pep

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At the time of publication, Seth Jayson did not own shares in any of the companies mentioned. See his latest blog commentary here. View his stock holdings and Fool profile here. Fool rules are here.