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Media Serving Up More Positive Housing News, Thank You

Written by on Wednesday, 13 February 2013 6:00 pm

Remember, back in 2007, when the housing market tanked and members of the real estate industry blamed the media for too much "doom and gloom"?

Sure you do.

You can still read all about it in the links that follow.

Not only did the media get bashed for not publishing more rosy stories, the limited good news helped push real estate over the cliff, or so the media critics said.

Long after the crash had been widely forecast and even after every economic indicator in the book pointed to the inevitable demise of unsustainable home price increases and the end of billions of dollars in toxic mortgages to the unemployed, kooky conspiracy theorists put the media on public trial.

Never mind that there wasn't enough "positive" news in 2007 to fill a sidebar, what news was available grew more and more suspect , as the "psychological equivalent of gold" lost its luster.

No more 'doom and gloom'

Well, happy days are here and again.

Read all about it.

The PewResearch Center says it all in the title of its recently released study "Public Hearing Better News about Housing and Financial Markets" .

For the first time since the Great Recession, the share of those who say they are hearing mostly good news (25 percent) is a tad higher than those who say they are hearing mostly bad news (24 percent) about real estate values.

The remaining 40 percent says the news is mixed, as it should be. The housing recovery is still spotty with some areas doing better than others and other areas doing worse.

Low mortgage rates are the bomb, but getting a mortgage is still a bear. So, not surprisingly, more (28 percent) still say news about the financial markets is mostly bad, compared to those who say it's mostly good (18 percent). The others, 44 percent say the news is mixed.

Again, that's because mortgage rates have been at record lows for most of the past year, but recently they've shown how volatile they can be, even at the low end.

News that's fit to print

The point to all of this is that the professional media, true journalists, real estate or otherwise - not those bull logs, "anyone-can-be-a journalists," and not those pay-for-review writers - still practice journalism old school.

They publish the news as it is, not as one might wish it to be.

Right now, the media is reporting the housing recovery is underway, that the recover is jittery, but that the best could be yet to come.

That's what the expert, professional sources are telling the media. That's what the media is checking out.

Professional journalists don't expect to be considered geese laying golden eggs, but they also don't expect to be the goat.

Like the Pew study reveals, something in between is a more likely reality for a recovering housing market.

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  About the author, Broderick Perkins

Individual news stories are based upon the opinions of the writer and does not reflect the opinion of Realty Times.