Media Madness

I'm new to Active Rain, but I'm surprised that no one mentions all the negative media hammering on real estate.  Anyone who reads runs into articles punctured with words like 'meltdown,' 'deflated,' 'collapse,' referring to either the mortgage or real estate market.   It's also an election year, so panic headlines add fodder to the already ignited campaign.

One snappy young reporter from Smart Money tells readers not to buy real estate because prices are down, and it's risky.  Our local reporters are quoting brokers who whine about how bad the market is. Every day headlines are screaming that foreclosures are skyrocketing.  Buyers are clinign to the very fence that they're sitting on bcasue media is scaring the heck out of them.  We have to let our local media know that now is a terrific time to buy.

If Toyota held a sale at 20% off, would media rant about not buying now and tell people to wait until the sale is over and prices went up again?  During the boom too many people overpayed for properties they had barely seen in the heat of multiple offers.  This market favors buyers and investors, and offers real bargains.

At least CNN Money is running articles like, "Time to Look for That Vacation Home, and "Discount Dreams."  They ran a story with the following illustration from the National Association of Home Builders, that show how much a new home will cost now as opposed to a year ago.  Those articles point out that new construction can be had at discounted prices.  Materials are down because of a lack of demand.  The same builder that told consumers to take it or leave it three years ago is now inviting buyers in to ask what they can do to make it happen.  Some are even taking the back up house in partial payment for the new one.   If media doesn't get the word out, we need to.