The media is always behind the curve on any real event. And notice, the meaninglessness of the median sale price number. If the better homes are not put up for sale because the seller is unwilling to give it to bargain hunters, by definition the median (middle) price will go down even without anyone actually lowering a price. These kind of scare tactics, I am convinced, are part of the writer’s intention to create a lower market because they are trying to buy a home and want it lower. Self-serving is not limited to politicians.
We are seeing the sales here in AZ begin to accelerate and the few bargains dry up. Lookers are coming back and volumes in some areas are exploding, again. One realtor told us she is closing $ 2MM /mo. in homes in nice neighborhoods. Somebody rang the bell.
“We are seeing the sales here in AZ begin to accelerate and the few bargains dry up.”
Interesting info — consistent with the data in this article.
By the time the MSM will have it on their front pages that the housing slump is over, it will be too late for bargains.
I think the MSM has a vested interest to keep everything “doom and gloom” until the election, hoping that will benefit the Democrats.
The NYT has an article, talking about recession — even though we had 2 quarters of POSITIVE growth, the 2nd Quarter better than the first, pointing to recovery, not recession. (The official definition of recession is two consecutive quarters of GDP shrinkage, i.e. “negative growth”.)
More Arrows Seen Pointing to a Recession
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The media is always behind the curve on any real event.
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Yes and no.
Even the liberal dough-heads over at The Los Angeles Times were
sounding warnings on the dangers of millions of ARMs back in 2005
(or maybe even in 2004).
But yes, they’re usually behind the curve. Even the business writers
of The LA Times admitted they totally missed the impending fall of Enron.