CondoAdvisory Blog

Here we go again, it seems that every day there is a story in the media instilling fear in the public regarding the real estate market. in Opportunity beckons for home buyers, Peter Simpson paints a pretty positive picture of the future of the real estate market in the lower mainland, but he starts out the article with a couple statements that set the tone.

“BUYERS SEE HOPE AS HOME PRICES DECLINE. Home sales throughout Metro Vancouver did indeed decline during August. Actually, free-fall is a more appropriate assessment of the realtor report revealing that Multiple Listing Service sales dropped nearly 54 per cent from the same month last year, which, by the way, was an exceptional month.”

This is a fair statement and if read properly simply says sales volume is down significantyly, but is being measured against a high point. It does not say prices have fallen to the same extent, but I think most people will read the first line about prices declining and then see the words free fall and will not make the distinction. I don’t think this is an accident, it is sensational and that is what gets peoples attention.

I just wish the media would be a little more responsible and a little less sensational, The impact this type of thing has on people and their thinking is huge.

I would love some comments on this, maybe I am off base???