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The Media Needs A Back To The Future Reality Check

By
Mortgage and Lending with Independent

 

The Media Needs A Back To The Future Reality Check

Lets compare the Great Depression to the present

Unemployment

  • 25% were unemployed in the United States 60 yrs ago
  • Only 4-6% is the current unemployment rate

Banks in serious trouble

  • 1 in 3 Banks were in serious trouble in the great depression
  • Only 1-2% of Banks are in serious trouble throughout the US

Stock Value

  • Over 60yrs ago The Stock Value lost 90% of its value
  • Just recently the The Stock Value lost only 40% of its value (But is almost back to normal now)

 

Hellooooo Mcflyyy, Wake Up Media, You need a Reality Check!

  • We are not in another Great Depression.  Rescission, slow market maybe but not a Great Depression!
  • Stop telling the Nation, Banks are not lending loans now. That is insane.  Guidelines may have tightened but people are still borrowing money and Banks are still lending them.
  • People are still buying and selling houses, I can't believe the media are saying that people are not buying houses now, serious Reality Check is in order.
  • Bad News and Hurtful news maybe more popular but come on. The truth is here, the market is always finding a way to correct itself and Real Estate will last forever.

In conclusion, Don't believe the hype.  What do you think?

 

Shane OnullGorman
Eau Claire Realty, Inc. - Eau Claire, WI
Eau Claire Wisconsin, Real Estate Agent & Realtor- Buy or Sell

The problem is that people expect media to perform in a certain way. Sensationalism sells. If it bleeds it leads sells. Sell Sell Sell! Unfortunately it is all in their business model or however you want to say it. It goes contrary to the code of ethics for journalism but it also sells more copies, gets more viewers etc. Shock and Awe right?

Until more people become educated it will continue to work. When it stops working they will do something else. I dont know what else to think about it.

Oct 26, 2008 09:53 AM
Yvette Smith
LONG & FOSTER - Williamsburg, VA
Realtor In Williamsburg VA, Homes for Sale

HI JUSTIN!

It's an election year, they've got to make it seem as though the nation is falling apart.  I always think back to a movie called Wag the Dog.

Things that make you say hmmmm!

Oct 26, 2008 10:08 AM
Justin Williams
Independent - Virginia Beach, VA
Loan Officer

@ Eau - So Very True My Friend, this is a sad taste of reality, Thank you for your comment!  Have a great weekend!

Oct 26, 2008 10:23 AM
Shane OnullGorman
Eau Claire Realty, Inc. - Eau Claire, WI
Eau Claire Wisconsin, Real Estate Agent & Realtor- Buy or Sell

I was thinking about this some more. It really is a complex issue but there really is no way out of it. The most sensational stories have always been the ones who sold more papers. They used to compete with headlines and still do. Really to get away from this model would be impossible. I guess when I said education is the key because people need to be trained how to read between the lines so to speak. It really isnt something you are just born with. Thats why most educational models are moving towards focusing on critical thinking. It is a technique that is not biased in any way it just teaches you how to think for yourself. I was fortunate in attending a liberal arts University that focused greatly on critical thinking.

Oct 26, 2008 10:32 AM
Justin Williams
Independent - Virginia Beach, VA
Loan Officer

@ Yvette - Exactly makes you say hmmmm indeed!  thanks for stopping by

Oct 26, 2008 10:32 AM
Justin Williams
Independent - Virginia Beach, VA
Loan Officer

@ Eau - Nice additional feedback my friend.  Well it is what it is, reading between the lines is not always what everyone is accustomed to.  The fact of the matter is that we should be reading between the lines and using our opinions and thoughts rather than conforming to the linear potrayals.  Thanks again for the feedback!

Oct 26, 2008 10:45 AM
Stephen Kappre
KW Hometown - Mantua, NJ
Helping You Home

Justin - I've sen these numbers before - it is so true.  Like many posts above - we have our lovely media to deal with. 

Oct 26, 2008 02:17 PM
Todd Clark - Retired
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

I think I hear this more from politicians than I do the media. They are using the economy as a scare tactic and the more fear they can put in to people they think the better chance they have of being elected.

Todd Clark, Helping Families Home - www.IFoundYourNewHome.com

Oct 31, 2008 11:56 PM
Laurie Logan
Keller Williams Realty, Inc., Broker Associate - Madison, WI
South Central WI Real Estate

Hey Justin,

Thank you for sharing some basic statistics.  Ironically, with the rise of the internet, many people are still not performing some basic research to make a clear comparison.

Nov 04, 2008 08:44 AM