Friday, February 12, 2010

Fear mongering will not help the recovery

There was an article in the SJ Mercury News with a headline saying home prices "may drop" which got me thinking...isn't fear mongering one of the factors that kept the mortgage meltdown going? The article is here:
http://www.mercurynews.com/real-estate-news/ci_14368647?nclick_check=1

Sometimes the press does a decent job of reporting. I've been fair about discussing both positive and negative news in my blog. However, I take issue with this article on the basis that buyer and seller psychology is fragile right now. We're finally getting to a point where rational markets are coming back.

If the media can take a break from spreading FUD (fear, uncertainty, and doubt) then 2010 should be a good year for real estate. However, enough baseless rumor mongering WILL stall the market. My suggestion for the media, report facts, stop projecting, and try to stay positive.

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