This evening I read another one of those panic articles on real estate. The headline of course blared on and on about home prices dropping "all across the United States."
The article was from the Reuters News Wire. It even had a nice pretty map along with the article.
As I read the cities from the nice, pretty map... I saw Los Angeles with a decline of 11.9 %, San Diego with a 13.4 % decline, Las Vegas with a 13.2 % decline, San Francisco with an 8.6 % decline, Denver with a 3.1 % decline, Chicago with a 3.9 % decline, New York declined 4.8 %, Boston declined 3.0 %, and Miami declined 15.1 %.
That was it. That was what Reuters was blowing their trumpet about. Texas was untouched. No declines, no bad news, no weeping and gnashing of teeth, no end-of-the-world.
So why then... are so many buyers afraid of the market ?
It's that doggone broad paint brush that the national media paints this negativity with. Maybe more like a paint roller. Nah... it's really more like they are using a power paint sprayer.
Why wasn't there any news about the markets across the country that are HOT ? I guess HOT markets are bad for TV ratings. Perhaps HOT market news is bad for selling newspapers ?
Well... all you folks at MSNBC, you guys at FOX, you clowns at CNN, you know-it-alls at CNBC. Texas is FINE ! Texas is ALIVE ! And... Texas is KICKING !
Please... all you national media types. Take your silly negative news paint brush and go somewhere else and play !