Thursday, November 30, 2006

Media, the engine of the housing market

It's been claimed by some that the mainstream media is responsible for the current housing decline. This line of logic has it that hyping a previously non-existent downturn caused it to happen, sort of like a self fulfilling prophecy, or something of that nature. If this is true then it would follow that they were also responsible for the dizzying heights the housing market reached during it's bull run.

It's possible.

That being said, I think every R/E agent, broker, lender, mortgage broker etc... owes a letter of thanks to their favorite media outlet (or hell, all media outlets for that matter) for all the cars, vacations, big houses and mountains of cash they acquired by way of the medias efforts.
It was quite a party.

Vern

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