Does the newspaper love a bad real estate market?
I would imagine in the 2004/2005 real estate boom years the Sarasota Herald Tribune ad revenues from Realtors were way off. Homes were selling quickly and there was little to no need to advertise. It was about this time when I noticed the newspapers could not say a positive thing about the real estate market. The word "bubble" seem to pop up every day in some fashion. They were putting negative spins on every positive event in the Sarasota real estate market.
Now that the market has slowed down the real estate and classified sections of the newspaper are very thick with advertisements. I am guessing their ad revenues are shooting through the roof. Don't you think the newspaper likes a slow real estate market? Do they purposely write negative articles? Alot of people read their articles and take them as fact. They have the ability to influence and scare people. I wish they would report the news without an agenda.
Now that the market has slowed down the real estate and classified sections of the newspaper are very thick with advertisements. I am guessing their ad revenues are shooting through the roof. Don't you think the newspaper likes a slow real estate market? Do they purposely write negative articles? Alot of people read their articles and take them as fact. They have the ability to influence and scare people. I wish they would report the news without an agenda.
posted by Marc Rasmussen at
2:35 PM
1 Comments:
Marc,
IMO, the Herald Tribune writes these types of stories because it's a local story and because it's an easy story to write about.
So many people were talking in past years about how their property was worth so much more than they thought, how their neighbor had sold their house for a huge profit, etc., that now that the market has changed so quickly, that is indeed a worthy news event.
I think many people and realtors simply cannot believe how fast the market changed in Sarasota. Everyone thought they had plenty of time to sell. Sales literally started to collapse in December of 2005.
I saved an article from May of 2005 that was in the Business section that comes with the Monday edition and they had interviewed a guy who was selling all his rental properties because the cost of upkeep, taxes, insurance, etc had gone up so high that he felt it was time to unload them.
The title of the story was something like, "Is the Real Estate Market Topping?"
It turned out to be a very timely and pertinent article.
Just in case you're wondering, I DO NOT work for the local fishwrap. :)
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