December 4, 2006: Pending Home Sales Tumble
NAR: “It’s important to focus on where the housing market is now – it appears to be stabilizing, and comparisons with an unsustainable boom mask the fact that home sales remain historically high – they’ll stay that way through 2007.”

October 10, 2007: Realtors group lowers sales forecast
NAR: “The speculative excesses have been removed from the market and home sales are returning to fundamentally healthy levels.”

November 15, 2007: Realtors revise home sales forecast lower again
NAR: “It is possible for even higher home sales activity than we’re forecasting if buyers regain their confidence.”

the best outcome of the recession is if these guys go under.

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