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DavidLereahWatch almost makes DL's mom cry


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2007 Mar 1, 8:52am   23,627 views  196 comments

by HARM   ➕follow (0)   💰tip   ignore  

artist's depiction of David Lereah's mom

CNN Money/Fortune Interview with David Lereah:
"Mr. Real Estate: 'All systems go, pockets of pain'"

Q: You've been accused by the blog David Lereah Watch of being too bullish. What's it like to have an online antagonist?

A: [DL]"At first I was kind of laughing. And now, it's enough already. This is a 26-year old that could not afford a townhouse and blamed it on the boom. And then he said, Who's talking about the boom and my name kept coming up. So I became Satan to him.

"The worst was that my mother read one of those things, and she almost started crying. And I had to say, Mom, you have to have thick skin. I'm going to be in the public and make statements about real estate, and if someone doesn't like what I'm saying, they have every right to say something opposing me.

"Now should they go so far as to call me Satan? I don't understand where that's coming from. That's just weird."

Now, I don't know about the rest of you, but this makes my blood boil! Comparing America's favorite Champion of the American Dream and recipient of the... uh, Homeownerhip trophy thingy... to the Devil!! And practically making his grey-haired mom almost cry (while she was probably baking some fresh cupcakes for one of Dave's many open houses)! This is simply uncalled for... cruel, disgusting.

I've long suspected that these Bubbleheads are jealous, angry bitter trolls who derive sustenance from the tears of kindly old grandmothers --and now we have the PROOF!

Discuss, enjoy...
HARM

#housing

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2   StuckInBA   2007 Mar 1, 9:10am  

Mom, you have to have thick skin. ...

... if you start crying every time I lie, you will run out of tears.

3   SFWoman   2007 Mar 1, 9:10am  

"He is probably just doing his job."

They said that about Goering too.

4   HARM   2007 Mar 1, 9:12am  

Wait, wait... this just in:

David Lereah's mom has just issued a formal response to her son's critics:

5   e   2007 Mar 1, 9:19am  

This is a 26-year old that could not afford a townhouse and blamed it on the boom.

Yeah... who told him to be born in the wrong year. His fault for not being conceived 20 years earlier.

6   e   2007 Mar 1, 9:20am  

I think in the last thread, it said that in the ol' days, 20 year mortgages were the norm.

Then it was 30.

Will 40 (which is already offered with great abundance here) be the next permanent hotness?

At the end of the day, there's really nothing to stop it from happening...

7   StuckInBA   2007 Mar 1, 9:25am  

HARM :

I thought his mom was ashamed of him.

8   HeadSet   2007 Mar 1, 9:25am  

"Will 40 (which is already offered with great abundance here) be the next permanent hotness?

At the end of the day, there’s really nothing to stop it from happening… "

Japan did have an outbreak of the 100 year mortgage during thier bubble

9   StuckInBA   2007 Mar 1, 9:27am  

At the end of the day, there’s really nothing to stop it from happening…

Why should it not happen ? I have said before, if someone is willing to give me a loan of 1M at 5% for 100 years I will take it right away.

10   HARM   2007 Mar 1, 9:31am  

StuckInBA,

No, no, no. She was upset to see her precious little angel so brutally attacked for no reason whatsoever. How could anyone gaze upon this cherubic mug and not feel the love...??

11   HARM   2007 Mar 1, 9:37am  

PaloAltoRenter (PAR) Says:
Does HARM stand for hybrid adjustable rate mortgage?

No, it stands for "Homeownership Affirming Righteous Mercenary".

12   Glen   2007 Mar 1, 9:39am  

Will 40 (which is already offered with great abundance here) be the next permanent hotness?

At the end of the day, there’s really nothing to stop it from happening…

Good point. I could see it happening. People are living longer than ever and most will not be able to afford to retire. If the average person buys a house at age 35 or so, the mortgage could actually be paid off during their working years (if they retire late due to future problems with social security). But the reality is that most people will never pay off the mortgage. They will sell or refi long before owning the house.

13   Allah   2007 Mar 1, 9:43am  

They will sell or refi long before owning the house.

....or foreclose.

14   HARM   2007 Mar 1, 9:46am  

"Tear" would be completely appropriate, given the thread's subject matter.

15   StuckInBA   2007 Mar 1, 10:02am  

This is the Scarlett O’Hara scenario: “I’ll think about that tomorrow.”

That's a good one too.

16   SFWoman   2007 Mar 1, 10:17am  

I'm sorry, but I feel the need to share this:
http://tinyurl.com/yrphzg

17   StuckInBA   2007 Mar 1, 10:29am  

SFWoman :

Thanks. Now where did YOU find that story ? :-) And what comments !

18   B.A.C.A.H.   2007 Mar 1, 11:12am  

David Lereah is a caricature of that guy in the movie, "Thank you for Smoking".

19   Allah   2007 Mar 1, 11:16am  

He was fined €2,000 for bringing the donkey to the room under the Unlawful Accommodation of Donkeys Act 1837.

They made it a law since 1837? :lol: This must be very popular over there for over a decade!

20   Brand165   2007 Mar 1, 11:20am  

I have said this before. David Lereah bears an uncanny resemblance to Bob Saget. However, although both can be somewhat repetitive on the air, at least Bob Saget is occasionally funny during live standup.

21   Brand165   2007 Mar 1, 11:45am  

Funniest Flipper Tricks?

22   SFWoman   2007 Mar 1, 12:47pm  

My, the Hayward fault is active this week. That was a 4.4 epicentered in Lafayette according to the alert I was sent.

23   FormerAptBroker   2007 Mar 1, 12:54pm  

SFWoman Says:

Someone wrote:

> “He is probably just doing his job.”

Then SFWoman Says:

> They said that about Goering too.

Don’t forget Mengele…

Ken Lay was also “just doing his job” (keeping the stock price up) when he told stockholders that despite the bad news about the company he just bought (a small amount) of stock that day (after selling millions of shares the day before).

Ken Lay only ruined the lives of a small number of Enron shareholders while David Lerah will ruin the lives of many more who took his advice since he is an “Economist”…

24   FormerAptBroker   2007 Mar 1, 1:01pm  

SFWoman Says:

> I’m sorry, but I feel the need to share this (a link to
> a story about a guy getting caught with a donkey
> in a hotel room in Ireland’s County Galway)

Then StuckInBA Says:

> SFWoman : Thanks. Now where did YOU find that story ?

I was a little disappointed when the article didn’t name David Lerah as the guy caught with the donkey…

P.S. Western Ireland is full of friendly wild donkeys that will just walk up to you when you are playing golf…

25   laverty   2007 Mar 1, 1:09pm  

Greenspan backpedals and yes, the wort of the housing downturn is over!

http://tinyurl.com/2bwhgq

26   Randy H   2007 Mar 1, 1:10pm  

What follows is an outburst inspired by one of my heroes, Surfer-X:

Mr. Lereah

Give me a fucking break. But then again, I guess besmirching a 26 year old who's on the shit end of this giant bubble you've danced around with your sophomoric attempts at spineconomics is about the best you can muster.

If you're a fucking economist then I'm the Fed Chairman's economics tutor. It's shits like you who make the average Joe and Jane assume all economics is just bullshit.

Your mother has good reason to cry. Her son is a shameless sellout fuck who would sell her into the REIC machine if he thought it would help erase some of the embarrassment that NAR exec Stevens couldn't even sell his own fucking homes for asking price, yet continued to claim there was and is no bubble, reading from your prepared script.

Plenty of us can easily afford our homes. Plenty of us aren't 26 year olds, as if being young were some kind of sin anyway. No. We're just smart enough to realize fucking bullshit when we hear it.

Luckily, fundamentals always win in the end. And unless golden monkey statuettes start flying out of my ass sometime in the near future, there is absolutely no justifiable, fundamental economic reason to believe today's house prices are in any kind of rational equilibrium.

But then, an economist would know that. Maybe you're not an economist. In that case, you have my apologies for all this. In that case then you're just another dumbfuck liar.

--

And pardon everyone else for my once annual X-esque outburst. Man Lereah pisses me the fuck off.

27   Peter P   2007 Mar 1, 1:19pm  

Give me a fucking break.

King Randolph is using profanity. He must be mad.

28   Brand165   2007 Mar 1, 1:48pm  

I'd have to say my favorite part is where he cons the Russian desk clerk into thinking the donkey is actually a super-rabbit.

29   OO   2007 Mar 1, 2:14pm  

4.2 earthquake just struck SF. When it rains, it pours.

30   surfer-x   2007 Mar 1, 2:20pm  

I sit in my pathetic rental, by my cheap pine table, in awe, HARM's sweet sweet delicious hate, and Sir Randall of the Fat-Stacks using profanity, mmmmm, a big sailors hello to your Sir.

31   OO   2007 Mar 1, 2:44pm  

Randy,

you missed the part in which surfer-x kindly reminds DL's mom to contain her fondness for corn.

32   StuckInBA   2007 Mar 1, 3:05pm  

Is any one of you smarter than a fifth grader ? I am not. :-(

33   surfer-x   2007 Mar 1, 3:52pm  

Fuck me sideways, the blog is getting selfspammed, my that's a clever cleaver

34   HARM   2007 Mar 1, 4:37pm  

Just watching Randy briefly come over to the Dark Side made this post worth it!

35   Different Sean   2007 Mar 1, 9:52pm  

nice brickwork behind that Madonna... what do you think that place is worth?

anyone know where i can find a good bricklayer for some renovations?

36   DinOR   2007 Mar 1, 10:08pm  

DL: "We haven't strayed from fundamentals"

DL: "Regulators and the big lenders need to get together and work out some arrangements to accelerate refinancings"

Chrissakes dude, which one is it? I'm sorry, my limited understanding of "spin-economics" preclude me from citing a precedent where regulators and "big lenders" have worked together with the urgency of a volunteer fire department?

I suppose the reason I placed big lenders in quotation marks is b/c it strikes me that he has already written off ALL of the lesser players! Evidently Mrs. Lereah had stumbled upon Mortgage Implode as well.

"work out some (arrangements?)" as in LOAN WORK-OUT?

37   DinOR   2007 Mar 1, 10:13pm  

Sandibe,

OT, but still on the general topic of profit through deception. Apparently your "notion" of HF's profiting through the use of blatant insider trading wasn't so far-fetched after all? UBS, BofA and Bear Sterns all claim that the conduct of these individuals is in direct conflict to their written policies, and I'm fine with that.

I stand corrected sir.

38   DinOR   2007 Mar 1, 10:15pm  

PAR,

Fault lines in the Portland Metro area have been more active than usual as well, relative to yourselves of course.

39   DinOR   2007 Mar 1, 10:18pm  

Trouble in the Primeland

An NBC Dateline Exclusive?

40   DinOR   2007 Mar 1, 10:27pm  

Gin? Check!

Sleeping Bag? Check!

Saved you a trip to Home Despot, no need to thank me. :)

41   DinOR   2007 Mar 1, 10:44pm  

PAR,

Herb is a good man. The notion that "home equity" has replaced savings in the consumer's mind is frankly...... shocking!

It's still good though to hear the Fed finally gets it.

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