I stand corrected – what I wrote was wrong. I said,
“Some interesting stats (that NAR should have evaluated but doesn’t dare – as it would look like they favored “traditional brokers” over the current crop of leeches)”
2006 NAR President, Tom Stevens did correctly evaluate that data and NAR did a wonderful job of it too. You can see it all here, in an article by Blanche Evans – who is, by far, the most well informed and relevant estate columnist around.
Greg Swann wrote about the extremely nutty Keith at Housing Panic and I laughed out loud when I read it. Greg – in a different post – wrote about Ace Reporter, Catherine Reagor – protesting her lack of relevant data analysis. He closed that post with:
Why are newspapers dying? How about because they refuse to tell the whole truth…?
I don’t believe that Catherine Reagor is refusing to tell the whole truth – I believe that she can not correctly evaluate relative importances or has an editor who has gone WAY out of his or her way (for years) to always make her look bad. Has she ever written anything that you (“you” here would be anyone reading this) thought, thinking to yourself, “Damn, that was good!”. Compare any random droppings from Blanche Evans to Catherine Reagor’s work and you will notice that Blanche tends to compare statistics so that after you read what she wrote, you are better informed – and now know more about the subject. But the quality of their real estate writing really isn’t true for everyone at the Arizona Republic, I’ve enjoyed reading Bob Golfen’s car columns for years – and even if I didn’t like the car he was writing about, I liked reading what he had to say about it. A couple of really bright and decent people in the editorial area there are Richard de Uriate and Doug MacEachern. Also, I don’t believe that the Arizona Republic would have anything to gain by intentionally withholding “the truth” – about any subject.
Giving any statistic without comparing it to SOMETHING RELEVANT tends to make the statement meaningless. Do the reporters writing about the real estate market do this routinely? Ten points if you guess this one corrctly! Then to get stats in, they take the useless (and numbing) gibberish spewed forth from Dr. Jay Butler and print it (often under Catherine Reagor’s byline) like it actually meant something. Is useful information actually available? Yes, and they print that too; R.L. Brown Reports is almost always spot on and Brown’s data can actually be used. What is the difference? Well, Brown doesn’t have a monotone evaluation of importances for all possible data (Jay Butler excels in this area) for starters. Another point for Brown (or Blanche Evans) would be their ability to not only evaluate relative importances but selecting relevant data in the first place (not including tons of added inapplicable data) to comment upon. Of course there are other points of logic that they follow, as well – but, for me, those two really stand out. In short, they UNDERSTAND what they are writing about – just like Bob Golfen does when he is writing about cars. Read a few of Bob’s columns sometime and you can’t help but notice the he is “into cars”. He really likes thinking about them, talking about them and writing about them. It isn’t something he is doing just to get a paycheck (although he does get one) – he gets off getting to drive the cars.
Keith, at Housing Panic is a different matter entirely. True, he can not correctly evaluate data but it may not be for the same reason(s) discussed above. Keith “already knows” the answer. There can be an apparency that he is “looking to find the truth” about something (in this case the housing market) but Keith – like any fanatic (religious or otherwise) has THE correct solution to all possible problems. If we were just dealing with “how to get correct and logical answers” then we could isolate the factors that prevent that: false data and errors in logic. But there is not a goal with people like Keith, for himself or others, to arrive at a better understanding, as he already HAS the correct viewpoint for everyone. What makes his particular brand of nuttyness a bit hard for most people to grasp is there is the apparency that he wants an interchange of ideas – he does not. Keith does not really LOOK at something to see what is there, he looks only at his own prior evaluations on the subject. It makes precisely NO difference what stats are quoted, or who quotes them – his conclusions were reached prior to even having the “communication”. Therefore any attempt at real communication is almost pointless.
Hopefully, I’ve made lots of new friends with this post.
Kaiser Sose says:
Russell, it is obvious you are in denial.
How pathetic.
November 26, 2006 — 1:18 am
Paul E. Math says:
NAR got it wrong, Greg Swann got it wrong and Russell Shaw is a hack and a liar. Do not listen to these liars!
Follow the money. The NAR and Greg Swann make money PER TRANSACTION. They want as many home sales as possible. They are willing to tell you anything to get you to buy or sell your home. Ask Greg Swann or the NAR chief economist David Lereah and they will both ALWAYS tell you that it is the perfect time to buy or to sell your home – how can this possibly be a true statement? They look you straight in the eye and they lie. They have no respect for you, the home-buyer or the home-owner. Russell Shaw is just their paid mouth-piece.
I’ve never heard or seen the NAR, Greg Swann or Russell Shaw directly address the very real fundamental weakness in the housing market. They’ve never even considered it an option.
What about the fact that home prices are currently way out of line when compared to their historical relationship to average incomes and average rents? What about skyrocketing foreclosures? What about the fact that prices have been propped up by recent historic lows in interest rates that are destined to return to historic norms? What then?
What kind of an ‘investment’ will real estate be when interest rates rise and when all these ARMs, IOs and Option ARMs reset for people whose budgets are overextended, overextended because they thought they were getting in on a great ‘investment’?
When will you people tell the truth?
November 26, 2006 — 7:14 am
Peter says:
booooring.
you guys must not be making any sales.
just wasting your time in front of a dumb computer.
what a lousy excuse for a blog.
blood what the . . .? go . . . yourselves I guess !
November 26, 2006 — 7:20 am
Anonymous says:
you are looser realtwhores. hope you saved some of your commisions as the next few years are going to be very tough for you liar realtors!
November 26, 2006 — 8:00 am
Athol Kay says:
I’ll disagree a little about Keith having any sort of a solution. I don’t think he has one to offer, just a view that we’re all going to hell in a handbasket.
November 26, 2006 — 10:30 am
Kaiser Sose says:
That was an interesting piece of psychological analysis there Russel. You always criticize without posting any information at all. You always refer to biased NAR reports that are clearly misleading, and in denial. What is your role on this blog anyway? Are you the useless bag of wind who’s only purpose is kiss Greg’s ass?
November 26, 2006 — 8:09 pm
Joe says:
Wow, who would have thought that it would be possible to write 5 whole paragraphs without actually saying anything meaningful?
Tell us, Russel, why it is we should listen to you, a businessman who gets paid per transaction, instead of the economists and reporters who have nothing to gain or lose by reporting the facts as they come (and before you get all lathered up about the Republic, yes, I agree that there are some journalists and even economists who are biased. But all of them? Sorry, NO.)
November 26, 2006 — 9:39 pm
John L. Wake says:
Now for a comment from an adult.
It’s interesting that you compare Catherine Reagor to Bob Golfen. Many times I’ve found myself reading his column and thinking, “I have no interest in this car, why am I reading this column?” I guess that’s good writing.
Okay, to defend Catherine for a bit, how would you like to work at the Arizona Republic? That’s gotta be a tough job.
As a Havasupai friend used to say to describe bureaucracies, “Nothing but bosses on top of bosses.”
And then they have their red phone back to Arlington, Virginia where they get their instructions on how to educate us hicks out here in Arizona.
Concerning Catherine, I assume she’s doing the best she can under the circumstances even if she or her copy editor occasionally get it completely wrong like they did last June (subheading: “Home prices may dip 10% as fear grips Valley market”) and needlessly panicking zillions of people.
Also, her blog has potential if she would post more often. (I don’t understand why a professional writer wouldn’t post more often?) http://www.azcentral.com/blogs/index.php?blog=164&blogtype=Bizblogs
November 27, 2006 — 10:10 pm
jon says:
Of course we should believe people who make a living based on how many houses they can sell, and not our own eyes and ears.
The game is up, at least for a few decades or so, the flippers are gone the subprime and liar loans are gone, the alt A is next, and congress is already having hearings about who should be blamed.
I spent plenty of time in phoenix, and have friends who even moved there, even though they hated it, because house prices were cheap compared to California, but the prices are falling every month here, so the incentive to move to live in a furnace is going away, you will revert back historical normal prices, like it or not.
April 8, 2007 — 10:54 am