NBC Nightly News Discovers ‘Housing Recession’ after MRC Ripped Network for Ignoring Story

NewsBusters ^ | 8/22/2022 | NB Staff

[JV3MRC]

NBC Nightly News seemed to have discovered that the U.S. is in a “housing recession” under President Joe Biden on Aug. 18, after MRC Business ripped the network for initially ignoring the story.

CNBC on Aug. 15 reported that The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index “dropped 6 points in August to 49” for its eighth consecutive monthly decline. Anything below a 50 is considered negative. NAHB Chief Economist Robert Dietz said in a statement obtained by CNBC that “‘[t]ighter monetary policy from the Federal Reserve and persistently elevated construction costs have brought on a housing recession.’” Fox Business reported that the result marked the “worst stretch for the housing market since the 2008 financial crisis.” NBC Nightly News was one of three major news networks that ignored the story entirely during its Aug. 15 broadcast.

[dynachrome]

Colorado is still high priced, but I do see some price cuts.

[cdnerds]

Prices never go down in NY or NJ.. Ever.. doesnt matter if NO ONE is buying houses, they will raise the price on spite alone. Case in point, 33% of the office space is vacant in NYC, Office space is only going up in price.

[ealgeone]

Kinda like how the lamestreams “discover” the homeless when a rep is in office.

[Titus-Maximus]

More evidence of a biased, useless media.

[Ruy Dias de Bivar]

Housing prices in a small hick town in NW Arkansas are so high I got shocked when I looked up a neighbor’s property!

Must be all that Walmart money coming into the area.

but without all that Walmart money coming in, this would just be a backwoods hillbilly berg as it was sixty years ago, when Walmart was just Walton’s 5&10 on the east side of Bentonville square and the Confederate statue still proudly stood in the middle of the square.