Media Words of Wisdom

Love CNNMoney and all the other mass media outlets. They routinely hit the shock value of a story and leave off the more important stuff (like details and suggestions on how to...).

Anyway, today's CNNMoney reports that "At least 42 percent of major housing markets are in decline, with some projected to fall by double digits over the next five years." They also reported, with what I read as bullseye sarcasm, that "The National Association of Realtors has reversed its usually sunny outlook and is now predicting a 1 percent drop nationwide in existing home prices in 2007, the first such prediction in the four decades since NAR started tracking prices." Yes, it's true, the NAR is often myopic and overly sunny. But I guess sooner or later you can't paint a rosy picture when you're knee deep in fertilizer.

But here's what I liked about this article. It hit the nail on the head when it said "house markets are intensely local"...and said that real estate professionals should be abreast of many important indicators, such as inventory, DOM, Realtor feedback, Seller attitudes, etc.

Good article, and seemingly more balanced and helpful that most housing-market-doom-and-gloom articles. Check it out. http://money.cnn.com/2007/06/19/real_estate/housing_rebound.moneymag/