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KRON 4 stupidity: "Bad for the market, but good for buyers"
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2011 Oct 15, 3:17am 4,219 views 14 comments
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The time to buy stocks is now. The time to buy a house is when you inherit it from your parents. KRON talking heads are a bunch of idiots of course. What else can you expect?
I had just turned on the TV and got sucked in as the stupidity unfolded. I don't usually watch it. Guess that choice was underlined today.
madhaus
2011 Oct 15, 3:42am
Tell me you've never, ever seen a "news" story like this before. Of course you have. Realtards being consulted as if they're market experts rather than cheerleaders, or anchtards reporting on rising affordability as if it's a bad thing. Why the hell do you think sites like patrick.net (and Burbed, of course) have fans?
So, having found us yet another Buy Now Or Be Priced Out Forever "news" story, let the wild mocking commence!
Tell me you've never, ever seen a "news" story like this before.
I really don't watch much TV. I haven't see one like that before. I watch CNN in the morning for about 20 minutes. I guess my disgust sort of validates my avoidance of that crap.
madhaus
2011 Oct 15, 4:42am
I don't watch tv either, but this kind of garbage is in print media as well. Look who buys all that ad space in what's left of our "newspapers."
I don't watch tv either, but this kind of garbage is in print media as well. Look who buys all that ad space in what's left of our "newspapers."
I am some weird hermit. Don't read much print media, either! Mostly I read Patrick.net and the places that the links lead me.
madhaus
2011 Oct 15, 6:49am
I am some weird hermit. Don't read much print media, either! Mostly I read Patrick.net and the places that the links lead me.
Don't watch TV or read print media, don't read mainstream web media? No wonder you're so disappointed with most of what passes for "news" these days!
Then maybe you'll get why this had me chuckling to myself (yes, politics intrudes our discussion of media spin):
Then maybe you'll get why this had me chuckling to myself (yes, politics intrudes our discussion of media spin):
Very Scary! (and funny)
I do get my 15 or 20 minutes of CNN, most days. I didn't know about the whole melon infection thing. I was eating Cantaloupes the whole time.
The local media.. SF especially has a twisted sense of reality.
You will never see real analysis on SF prices by the media. By all measures in their little minds, home values are actually much higher than market prices.
You will never see the chart below on local news...
Arg! That is crazy. That graph IS the story. Anything else is just hot air.
Maybe graphs are to "thinky" for their audience.
I would like graphs related to jobs, consumer debt, taxes and the divide between the rich and poor to go with that graph. I dream of intelligent, informative news!
Another "key" part that seems to be missing from stories like these is that perhaps homes aren't selling as well because.... they're still too expensive.
APOCALYPSEFUCK is Tony Manero says
They need to interview me!
I might pay to see that :-) Patrick should put you on the front page to reduce the bounce rate. You are priceless.
Well the reporter should have stopped while he was ahead and simply stated; prices headed down, good for buyer, prices headed up, good for seller. But then everyone knows that...
Unplug your tv is the take away here.
bubblesitter
2011 Oct 22, 5:00pm
APOCALYPSEFUCK is Tony Manero says
You mean everyone in the universe doesn't want to pay $400,000 to live in Stockton? Really? How could that be true?
LOL.
It was absolutely hilarious to see the "news" story this morning from KRON 4 on the housing market in the Bay Area. It started with them telling us that prices are down. Then they explain that this is "Bad for the market, but good for buyers". I guess by their explanation, the market exists as an entity separate from buyers. I guess that helps make sense of how prices in the Bay Area are up so high and few people are buying. How do you talk of a market separate from buyers. Aren't buyers part of the market or are they sort of irrelevant to the market???
As they introduce the story the anchor explains that if you are looking to buy a house, "The time is now!" Really, wow! Thanks for sharing that bullshit as if it were "news". Then the Realtor@ they trot out explains that for 3-5 years the market will be fairly flat with prices only going up 10% in 5 years. REALLY??? Sure seems like prices are dropping to me. Not flat or going up. The reporter did indicate that some people have decided to remain on the sidelines until the economy improves and that "some who would trade up to mid-range homes simply can't do it now because they don't have the equity to make that affordable."
What was completely absent in this story was tying those last pieces together. I can only speak for myself, but I am sitting on the sidelines until the economy improves because I don't think prices are going to be flat or going up 10% in the Bay Area while the economy is doing poorly. It was more like a curious choice some of those quirky people like me are making. WHY WOULD THAT BE????!!!!
I would be OK if I were watching a stupid infomercial. BUT THIS WAS ON THE NEWS!!!! Patrick and rental parity should be on the news. NOT THIS GUY or this commercial posing as news.
(Granted more people buying lately than before which was part of the story, but the curious point that was made is that buyers were paying less for the homes they were buying. Real puzzler, that one.)
End rant.
#housing