Monday, September 12, 2011

Bubble Cause #5: A Complicit Press

Things you will never see in the press in a rising market:

1) Advice that renting is financially more sound than buying once prices have risen above rent ratios.
2) Warnings that markets don't always go up.
3) It can cost more than $20,000 to sell your home through a real estate agent. We speak to two vendors who decided to go it alone.

— Sunday Times Weekend, Property, 21-27 August, 2011
OOOPS. It's obvious why the press is captured by the real estate industry: AD$. But rarely do we get to see a full dissection of bullying of the press. Check out this RE industry freak out.

Biting the hand that feeds
Can I encourage you to boycott the paper in light of this, or better still this is a perfect reason why we as agents should build our own web site to challenge realestate.com.au and the others who keep putting the squeeze on us. Anyone interested?

— Mark Hay, Investment property specialist, 23rd August, 2011
Hey, I've got a great idea for a boycott. How about of the lowlifes damaging democracy by manipulating the free press?

I give you my personal guarantee that The Sunday Times will work hard to restore our relationship to the mutual good health and prosperity that we have achieved together over many years.

— Jason Scott, Managing Director, 24th August, 2011
Watch out Mr. Scott, your "product" (i.e. your readers) may finally wise up and realize they are getting sold.

2 comments:

jesse said...

Best post I've read all week.

Bubble collapses are fun for me because I enjoy seeing dogs fight over scraps of meat. It really doesn't matter who wins in the end, just that they fight for my amusement. I know I know, I have "problems".

Shaun said...

yes, excellent - based on my experience realtor is often not needed when you are selling a house. $20K for a few days of work is easy money.