National Association of Realtors Cheerleader Suffers from Burst Bubble Too

David Lereah feels your pain. Today's front page of the Wall Street Journal carries an article about the former chief economist for the National Association of Realtors who is working from home in Virginia these days, trying to pay mortgages on his personal residence and several investment properties with a newsletter he publishes costing $495 a year. He says he has 50 paying subscribers so far. Lereah was quoted here often about the rosy growth in second home investment values before the bubble burst.