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encourage good real estate journalists...


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2011 Jan 14, 5:21pm   1,261 views  2 comments

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Most of the stories I hear on the press, are so ill researched and one-sided SOB stories.

"Mrs X bought this house for 800k while working 3 jobs. Now she can't make payments, and facing foreclosure"...etc.

See examples here:
http://www.marinij.com/business/ci_16938033?source=most_emailed

I usually don't see any numbers like
- what was their income
- how much did they buy the house
- what kind of load did they get
- what is their 'reported income' for loan
- did they take money out of ATM

I guess they don't want the hard facts interfering with a nice SOB story.

SO, what do we do?

1) identify and post / promote stories that are well balanced and researched
2) post comments in the newspaper websites encouraging the reporters
3) ?

Any one has good examples of RE reporting?

thanks

#housing

Comments 1 - 2 of 2        Search these comments

1   Done!   2011 Jan 15, 12:04am  

They reported every house Madof lost like he defaulted on the loan.

2   bubblesitter   2011 Jan 15, 12:20pm  

Mr.Fantastic says

Are you kidding? Facts don’t sell. It’s emotional SOB stories that sell subscriptions or get ad views.
Do you think someone wants to wake up at 8am, login to their favorite corporate media giants website and read about someone who HELOC’d their home to the tune of $400,000, bought a BMW M5, and took 14 vacations to various Pacific island locales, and Europe? They’d be looking at an ugly self reflection of themselves. This is America, we don’t want the truth, we want whatever it is that will sustain the image of wealth and success right now regardless of the consequences.

Ah! HELOC. Well said.

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