National Association of Realtors Repeatedly Wrong about Housing Market Bottom

Realtors and the National Association of Realtors have been repeatedly wrong in predicting that the California Housing Market has “bottomed out”, according to the HouseFalls.com blog:

Why is California so important? Simple, according to the article “one out of every nine people in America” lives here…. With tightening lending standars on the way – the question is really how will people who can’t afford their ARMS when they mature qualify for a refinance of their homes. Simple answer, they won’t – and will likely lose their homes. With all of this news, it’s interesting that Realtors, and the National Association of Realtors (NAR), are saying that the market has already bottomed.

Hello false hopes campaign. If we’ve seen the bottom, why are things just getting worse? Oh, but I’m forgetting – they said the market had bottomed last month, and the month before, and the month before … Isn’t it high time someone calls B.S. on them? How about if any of us buys a house, and it loses equity because of the market – the NAR will refund us the difference?