Thread: Negative Media Coverage

Originally Posted by Gary727

Yes the market is in a correction. What is hurting more is the negative coverage by the media. I just heard an interview where they said "it is a bad time to buy a house". What I see is a buyers market! What a time for first time homebuyers to take advantage. If the media would stop causing frenzy's and scare tactics we would be better off.

The media? Those folks on TV, the web, radio, snail mail, and popups who tell me bad credit isn't a problem? Pay bills! Take a vacation! Lock in now before rates go up! Those media?

Originally Posted by Gary727

Yes the market is in a correction. What is hurting more is the negative coverage by the media. I just heard an interview where they said "it is a bad time to buy a house". What I see is a buyers market! What a time for first time homebuyers to take advantage. If the media would stop causing frenzy's and scare tactics we would be better off.

Gary727 is 100% right.
I have been watching this play out for many months on AOL, tv news,
the internet. Of course there are some people in desperate straits and
I do empathize with them. However, read Kenneth Harney's recent article
concerning the reality of the mortgage market, interest rates, etc. and
consider the following:
There is no such thing as a universal buyer's market.
Mortgage money is plentiful.
The general public is unaware about the truth concerning mortgage
availability.
The market for shaky loans has subsided and never should have existed.
Underwriting standards have tightened. So what! They needed to. This
will help the market going forward.
Get a grip everybody! Let's move forward and wade out of the media
induced stupor.

Originally Posted by IggysListing

The general public is unaware about the truth concerning mortgage availability

Everybody is unaware about the truth concerning tranched-out collateralized debt obligations, including the investment bankers who package them and the rating agencies who bless them.

I can see how some prospective borrowers might confuse the secondary 'credit crunch' with the retail mortgage market; however, most people who have a 20% down payment with good credit in California know they’re golden. It’s not as if mortgage spam has disappeared, and if they aren’t up to their ears in home ownership already, they're more shrewd than me.

Blame the media if you must, but a steep rise in mortgage foreclosures and ‘for sale’ inventory is a legitimate story even if it doesn’t reflect all regions.

The public is not blameless.
Quite frankly, we pride ourselves on education, but turn out thousands
of "college educated" people that should know better.
However, most of what I am saying is that let's all deal with facts and
move forward and be led like sheep to the slaughter.

We can't predict what is the best time for our business. All we need to do is keep the hard work in order to keep our business progressive.

Our country is finally ready for next year EU ascension, so we are seeing increased number of sales. Lot of foreigners are buying now.