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Real estate group admits error in NJ home sales

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Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
Moh,

Brad believes the NAR data is more credible than Case-Shiller data.

NAR never distorts data. :rof:
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
NAR data is more credible than Case-Shiller data
Poor old Shiller. He wrote a thesis that prices fall below where they belong in a declining market then rise above where they belong in a rising one and neatly skewered the old saw about the "rational" market being the best market - His biggest foe was a fellow named Merton. Merton, along with a couple of wags named Schoeles and Black are famous for their Nobel prize in Economics in which they argued their formulation (still taught today at Harvard Business School) proved a rational market exists at all times. They "proved" it by creating Long Term Capital Management and hedging using their famous formula...In 1998, suffering BILLIONS in losses, LTCM folded and created a banking crisis...so whose butt's dirtiest? Merton? Shiller?

I still trust Shiller's numbers better than the best Lawwy Yun can dish out.
 

Randolph Kinney

Elite Member
Joined
Apr 7, 2005
Professional Status
Retired Appraiser
State
North Carolina
Poor old Shiller. He wrote a thesis that prices fall below where they belong in a declining market then rise above where they belong in a rising one and neatly skewered the old saw about the "rational" market being the best market - His biggest foe was a fellow named Merton. Merton, along with a couple of wags named Schoeles and Black are famous for their Nobel prize in Economics in which they argued their formulation (still taught today at Harvard Business School) proved a rational market exists at all times. They "proved" it by creating Long Term Capital Management and hedging using their famous formula...In 1998, suffering BILLIONS in losses, LTCM folded and created a banking crisis...so whose butt's dirtiest? Merton? Shiller?

I still trust Shiller's numbers better than the best Lawwy Yun can dish out.
I have examined NAR data. It is biased. It is terrible as to the real representation of the market.

I believe the rational market theory has been discredited by reality. :)
 

Workbox

Elite Member
Joined
Mar 2, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
Is this another "Appraisers Forum" Prediction come correct? ........... I wonder if there is more to come?
 

Big ole Boy

Elite Member
Joined
Dec 6, 2003
Professional Status
General Public
State
Tennessee
"bad quantum relgion"

This worship of "don't rock the boat" and rationalism is false "quantum relgion"
 

moh malekpour

Elite Member
Joined
May 25, 2002
Professional Status
Certified Residential Appraiser
State
California
They have the first hand data and the best software in their disposal and they come up with 34% error and they don't say why. This is incredible. I guess they cannot say the reason because they simply lied and thougt it was going to work.
 

Caligirl

Senior Member
Joined
Jan 27, 2006
Professional Status
Certified General Appraiser
State
California
They have the first hand data and the best software in their disposal and they come up with 34% error and they don't say why. This is incredible. I guess they cannot say the reason because they simply lied and thougt it was going to work.

'It's always a good time to buy and sell'. No-one's going to get a commission otherwise....
 
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