Lawrence Yun

Lawrence Yun is a Chief Economist and Senior Vice President of Research at the National Association of Realtors.

Lawrence Yun
Born
Sunchon, South Pyongan Province, South Korea
Alma materPurdue University, University of Maryland, College Park
OccupationChief Economist

Early life

Yun was born in Sunchon, South Pyongan Province, South Korea. While Yun was a child, his family moved to Columbia, South Carolina.[1]

Education

In 1987, Yun earned a bachelor of science degree in Mechanical Engineering from Purdue University. In 1995, Yun earned a PhD degree in economics from University of Maryland, College Park.[2][3]

Career

In 1999, Yun was an economic consultant to the U.S. Dept. of Veterans Affairs and U.S. Dept. of Education.[1]

In 2000, Yun joined National Association of Realtors as a junior economist. In 2007, Yun became the chief economist and senior vice president of research at National Association of Realtors.[1][2] Yun oversees the production of existing home sales statistics and the popular Home Buyer and Home Seller survey reports. He regularly appears on CNBC, BBC, Bloomberg Television, and is often quoted in the media.[4][5]

Yun is also a frequent speaker at Real Estate conferences throughout the United States. In March 2008, USA Today listed him among the top 10 economic forecasters in the country.[6] At the time, when most economists were calling for another major declines in the housing market, Yun predicted that the housing market could stabilize with home buyer tax credit. Four years later, that rebound has yet to materialize according to some analysts, though actual data show home sales, housing starts, and Case-Shiller home prices either showing modest increases from 2009 or showing essentially no meaningful change.

Yun appears regularly on financial news outlets, is a frequent speaker at real estate conferences throughout the United States. Yun appears often as a guest on CSPAN’s Washington Journal and is a regular guest columnist on the Forbes online.

In March 2012, Yun testified as a chief economist before Congress' sub-committee hearing.[7]

While a research associate at the University of Maryland from 1995 to 1998 with the funding from the United States Agency for International Development, Yun helped develop a graduate economics curriculum and lectured at several universities in the former Soviet Union as that country transitioned from communism to a market-based economy.

Yun followed his predecessor David Lereah, who has been widely criticised and discredited in the media and in the realtor(r) community. Yun has also been at times criticized for his predictions on the housing market. [8] His talks at national real estate conventions often draw a large crowd as his promotion of NAR's advocacy positions have often been adopted by Congress and the Administration.

Personal life

Yun's wife is Alla. They have one son. Yun resides in Arlington, Virginia.[1][2]

See also

References
  1. Carry, Pete (May 31, 2014). "Q&A: Lawrence Yun, voice of residential real estate, doesn't see a bubble". siliconvalley.com. Retrieved July 14, 2019.
  2. "NAR Names Lawrence Yun Chief Economist". rismedia.com. November 6, 2007. Retrieved July 14, 2019.
  3. "Lawrence Yun". justice.gov. Retrieved July 14, 2019.
  4. Mantell, Ruth (October 8, 2008). "Pending home sales index rises 7.4% in August". MarketWatch. Retrieved 2008-10-11.
  5. Gary, Alex (February 22, 2008). "Real-estate researcher believes 'fear' is hurting housing market". BusinessRockford.com. Archived from the original on September 9, 2012. Retrieved 2008-07-11.
  6. Hagenbaugh, Barbara; Hansen, Barbara (March 17, 2008). "Economist expects Fed to cut rates at least a half-point". USA Today.
  7. "Subcommittee Hearing: The Pros and Cons of Making the Census Bureau's American Community Survey Voluntary". oversight.house.gov. March 6, 2012. Retrieved July 14, 2019.
  8. Coy, Peter (January 24, 2008). "Realtors' Lawrence Yun walks on the yunny side of the street". Hot Property at Business Week. Retrieved 2008-07-11.
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