I have been listening to the spin by NAR spokesman David Lereah. The contradictions...

I have been listening to the spin by NAR spokesman David Lereah. The contradictions are nothing sort of amazing. In Looking for a Bottom on November 11th the Chicago Tribune quoted Lereah as saying:1) 'We need a price decline, we were overbloated'2) 'In 2007, it will be a flat year, maybe 1 percent [sales] drop, and that's it,' 'After 2007, we'll be back to expansion again.'Which is it, #1 or # 2? Or are we supposed to believe a 1% drop cures overbloatedness? Even if anyone was stupid enough to believe that a 1% drop cured overbloatedness exactly why wouldn't the promised expansion put us right back into overbloated territory again? On November 13th in Realtors lament prices Lereah moans that home prices are too high.1) 'It's affordability – it's not just mortgage rates that make homes affordable, it's prices. I hope that as affordability starts to improve we see more first-time buyers again,' Mr. Lereah saidBack on September 25th in U. S. Existing Home Sales Fall 0.5% in August Lereah said.2) 'We've been anticipating a price correction and now it's here. The price drop has stopped the bleeding for housing sales. We think the housing market has now hit bottom.'Once again is it #1 or is it #2?If houses are not affordable then how have they hit bottom? If housing has hit bottom then why do we need a decline to cure overbloating? Inquiring minds may be wondering exactly what is in the punch that would cause 30,000 people to show up for a NAR annual meeting and listen to such nonsense. When did he call for that price correction anyway, and what evidence is there that the bleeding has stopped?$40 Million Ad BlitzEven though housing has bottomed a NAR ad blitz touts the housing market.