During these rough economic times, I am continually amazed at how the press can spin news. I have a link on my main home page (Igoogle) I use that shows the major headlines. One headline will say that a companies profits fell by 40%...and doomsday is near. Yet another one will say that profits did not fall as much as expected, and so the sky is not falling. Reading the articles, one is very glass half empty, while the other is a glass half full. It is this seesaw attitude that is helping to drive the housing crunch further down. The press (and media in general) has a very big influeynce on how people percieve things. They read about prices falling 20% in California, panic, and decide not to buy locally, where prices may have actually risen.
I fall into this trap myself. I read all the national stories and fear that we will all go out of business. Of course, I then talk to local people, and they see housing getting better locally. Of course, when things do turn around, the press will be all over the rebound, which will encourage people to get out and buy, thereby spurring it on even more. You have to love it and hate it at the same time.
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