The constant barrage of news coming to us regarding the rising foreclosure rates nationwide and the deep discounting of homes in other parts of the country seems a little strange to us. We have indeed seen the slowing of the market due in huge measure to the negative news reporting going on. Those of us in Montana are being painted with the same brush as folks are in Las Vegas, Phoenix, Florida, Colorado and Southern California, yet we have not seen the huge numbers of foreclosures here. Yes, there are a few, about 2.5% of the mortgages in place statewide are in some form of default. But in a state with fewer than a million people, that's not a huge scary number. Montana has always been a little insulated from the ups and downs of our national economy simply because of our geographical location and our lack of population. The local media are baffled by the situation and are slow to localize their reportage, choosing instead to grab the Associated Press wire stories from the coasts and hard-hit areas described above.
But, I've noticed that, in spite of the reporting of the demise of the real estate market, their advertising rates have not adjusted downward. What's up with that?
Keep 'er steady out there.
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