Quick Take: Realtors Get Desperate

Want to know how bad things are in the housing industry? Look no further than this loony press release from the National Association of Realtors (NAR). It announces a nationwide advertising campaign designed to "counter recent negative housing reports in the media." Does it feature a graph of sales trends? Inventory? Prices? Of course not. It's a kid on a swing. (Awwww.)

This is a typical bromide from the trade group that brought us a never-ending supply of optimistic spin, encouraging people to buy homes as "investments," no matter how over-inflated they were, no matter how bad the financing was. (Hey, you can't blame them. They just want their 6% cut on the biggest financial transaction in your life.)

The trouble is, "negative" is simple reality. Inventory is way up, foreclosures are going through the roof, and prices are dropping at unprecedented rates. But they're still not low enough to bring in buyers, as evidenced by the price-chopping from builders like Ryland Group (NYSE: RYL  ) , D.R. Horton (NYSE: DHI  ) , KB Home (NYSE: KBH  ) and Hovnanian Enterprises (NYSE: HOV  ) .

I doubt a picture of a kid on a swing will change that.


Read/Post Comments (0) | Recommend This Article (13)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 539720, ~/Articles/ArticleHandler.aspx, 8/31/2014 4:27:50 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement