patrick.net

Well, here's a pointed lesson for all you newspapers and "Main Street Media" outlets - keep on shillin' for the REIC, or this could be what happens to you!

I guess Sacramento isn't worth covering anymore?

No conspiracy talk here. Just good, old fashioned corruption of the "free press".

At least we have the blogs (for now).

jukubot_activate :action => 'infiltrate', {:option => :delay }

This must be the beginning of "HARMageddon".

I noticed that Forbes is behind the power curve again, stating that "loan originating officers" are a great job with unexpectedly high pay....

http://finance.yahoo.com/career-work/article/103141/Surprising-6-Figure-Jobs

Any news on staff churn at the Modesto Bee, ground center of US REO activity?

center s/b zero

eliminate 40 positions, 10 of them through layoffs

We can only assume that 30 of the employees were terminated via MURDER!?

@HelloKitty,

:lol: yeah, I was wondering about that too. Maybe they meant 'early retirement'.

Maybe they told the staff that the paper was being acquired by Rupert Murdock, and 30 staffers dropped dead of sheer fright.

The other 30 were illegal aliens...........

Or maybe the other 30 were directly employed by the NAR. :)

10% of 40 is 4. That would mean, 36 employees were fired without without cause.

Sorry, I misread this on another bolg about the percentage, 30 is the correct number.

On another note; The subprime mess is Re-Contained.

HelloKitty Says:
We can only assume that 30 of the employees were terminated via MURDER!?

Seppuku!

SP

"The layoffs include four newsroom positions and will involve closing the newspaper’s one-man Sacramento bureau."

So, basically the Sacramento "bureau" was some guy whose livelihood was _completely_ funded by RE advertising.

I hope this didn't impair his ability to report on the clusterfuck in Sacramento area real-estate.

SP

It's time for the poster that observed it would simply be easier for the SacBee to advertise the homes that *aren't* "for sale" to take a victory lap!

Now who was that? SP? OO?

Step forward and be recognized! :)

Perhaps the other 36 were just open positions which will not be filled? Though you never know how far an editor will go when pushed...

"what would it take for media/TV to stop following NAR reports on housing sales, median price… and start following others like case shiller index"

Ad dollars are a factor keeping NAR as the data source, but do not forget percieved expertise. Too many people believe that reators are as integral to the buying/selling of real estate as doctors are to hospitals. It also seems that too many folks will still believe a Realtor who says "ignore the bubble babble" over others like Case-Shiller who warn of a crash. After all, the Reator is the expert who knows the subject. Hopefully, the market reality will soon debunk the Realtor spouted myths even to those most inclined to believe the "experts."

I bet David Crisp is not buying as many ads this year.

http://housingpanic.blogspot.com/2007/06/just-like-dot-bomb-housing-mania-will.html

FAB,

That story is like the old time rock and roll stars with a one time hit record....

Will 2007 be the era of the Real Estate Shooting Star's fall to Earth?

That guy Crisp had a helluva ride!

Its shocking you can live that well on credit so easy. I suppose it doesnt last very long.... and he can always get the old waiter job back.

Perhaps his model would work better in SF or Bev Hills? Or maybe not too many people doing that model there. In backwater bakersfield the rubes musta been hornswaggled in by his fancy pants and shiny cars. All the other realtors were driving suburbans and he took thier clients.

Interesting to me that the media might view Realtors as experts and defer to them for that reason.

Long experience is not always perceived as expertise. An example would be a long-time environmental activist. Reliable expert or biased fanatic? I think I've seen the second version slightly more often than the first.

I wonder what it would take to shift the perspective on Realtors?

Eliza Says:

> Long experience is not always perceived as expertise.
> An example would be a long-time environmental activist.
> Reliable expert or biased fanatic?

Anyone that self identifies as an “activist” is nuts and you can replace the word “activist” with “nut ball”.

Some examples (from both sides of the aisle) are:
“Animal Rights Nut Ball”
“Taxpayers Rights Nut Ball”

DinOR Says:
It’s time for the poster that observed it would simply be easier for the SacBee to advertise the homes that *aren’t* “for sale” to take a victory lap! Now who was that? SP? OO?

Well, half the time I don't remember what I said, but I don't believe that was me. May have been OO or stuckInBA or one of the other bon-mot'ers.

SP

I wonder what it would take to shift the perspective on Realtors?

For starters, the Main Street Media (TM) etc. should stop capitalizing the word Realtor (TM). It's a joke that they consider themselves a "profession" in the strict sense of the word.

From East Coast's Boston article link:

" We figure it is worth it for us to be house-poor."

What sane person wants to compete in a market with this mindset? Going into debt to build a new business in a act of hope and courage, but to fiscally enslave oneself to a consumer item is the worst of greed and folly.

Sheesh!

Well, being a Realtor â„¢ is a profession in the same sense that the oldest profession is...