… [T]he cracks began to show in subsequent remarks from NAR 'Chief Economist' David Lereah. The head outfit that ridiculed the idea of a housing bubble for years is now crying for Ben Bernanke to bring it back.
As time went on, flaws started to emerge in the remarks made by NAR's Chief Economist David Lereah. The organization that had consistently denied the existence of a housing bubble for years is now seeking assistance from Ben Bernanke to revive this concept.