BrokerageIndustry News

Real estate hurt by media spin

Part 1 of 2: Negative news scares off clients
Published on Nov 16, 2007

(This is Part 1 of a two-part series.) I am sick and tired of the negative media constantly ranting about how horrible everything is in our business. It's time for our industry to fight back against these psychic vampires who seek to suck every bit of hope and optimism out of us just to build their circulation. Newspaper headlines and buzzwords abound, such as: "Two million people will lose their homes in foreclosure in the next two years!" "Subprime Fiasco!" and "Mortgage Meltdown." These are the headlines we hear every day, yet where is the positive news about the real estate market? The answer is, buried in statistics on page 15 of section 3 of your newspaper, provided you can find them at all. Here's a typical example from USA Today, Oct. 26, 2007, page 1B: New Home Sales Unexpectedly Rise New homes sales posted an unexpected increase in September. But analysts were highly skeptical given the credit crunch and predicted further sales declines. The Commerce Department s...

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