Here's HGTV's now-laughable (and disgusting) list of housing bubble inspired shows:
My House is Worth What?
House Hunters
Designed to Sell
Trading Up
Curb Appeal
Buy Me
House Detective
What You Get for the Money
In 2001, after the dot-com crash, the top business magazines saw their ad pages crash 41%, and Red Herring a whopping 65%.
I'd imagine not only is HGTV about to feel a world of pain, but Housing Bubble Effect #858 will be: HGTV mass layoffs.
December 13, 2006
Will HGTV be the Red Herring of the housing crash?
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14 comments:
PUKE!
Are you really categorizing the housing effects by number? I would like to see the list so far.
I continue to watch HGTV sort of like you watch a car crash in slow motion.
"When," I wonder, "will they have to admit reality?" That's the show I'm waiting for..."Foreclosed but Forearmed" or "Condo Commandos" (when a development can't afford to pay the real management company, so they shovel show and paint the clubhouse themselves, and conflict ensues.)
In the meantime, if I were them, I definitely wouldn't shell out for another season of "Flip That House."
the truth is out there:
http://www.youtube.com/watch?v=GbPetrK_6Lc
I get so frustrated with HGTV and that cheesy wang chunks tonight. When will they show the pain? I want follow up shows on all those smug bastidges who bought at the top. Let's have a 2007-2008 farewell to ARMs tour.
The best current HGTV serial is called "The Big Flip", a somewhat homoerotic tale of two idiots who buy houses to flip without bothering with a $200 inspection or market research.
Catch it if you can!
anon 2:26:54, good one!
Underwater $140k on a new house. That's gotta hurt!
well,
whats wrong with HGTV- my wife loves it ,, gets decoarting ideas etc- come on its just entertainment
and twib is right,, the buy me show is a dose of reality show where sellers often cant sell their house (not always a happy ending) and some are in trouble
come on its better then a lot of the silly sitcoms with bad sexual innuendo on these days
no one makes you watch HGTV, and it has some nice decorating tips etc,,
were all not some depressed homeowners, most just raise their family and have wives (or husbands ) that like to decorate and get kitchen ideas etc
man, lighten up guys, really, lol
Right on, Twib, my wife loves the International House Hunters show. I remember they had a bartender in Paris buy a 500,000 Euro condo!! WTF, how can a bartender afford a place like that?
My guilty pleasure on that channel is "My House is Worth What?". This abomination of a show has homedebtors going even further into debt to buy something else they can't afford (a new kitchen, sending the kids to college, etc.). The people on this show act like they're on some kind of game show winning prizes, "Please let my home be worth $450,000 so I can take another $75,000 out to spend on hookers and cocaine!"
However, there was one moment of clarity on that show. A person who owned a home in the first key island just south of Miami realized that it was costing them $13,000 a month (!!!!) to own this house when they could rent an equivalent home on the island for only $4,500/month. So he wanted to sell his place and find out what it's worth.
I definitely recommend this show if you're looking for some schadenfreude.
Jym,
I dunno where you live but in some parts of the world a bartender can make a lot of money. I had an ex-boss at a Fortune 500 company. He was a VP. His wife was a bartender at one of those $20 a drink and $40 cover type of places. She made more than him.
Don't be so quick to judge who makes what.
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jymkata said...
Right on, Twib, my wife loves the International House Hunters show. I remember they had a bartender in Paris buy a 500,000 Euro condo!! WTF, how can a bartender afford a place like that?
TLC Channel's show "Property Ladder" is my favorite. At least they show the proplems trying to sell the properties and how long it took and the final true profit. Most ended up not really making that much. I hear the show won't have another season-- they can't find anyone in their area doing a new flip.
So true Markifc...the only part I hate is they never deduct the realtor's fees or closing costs before they say, "my profit will be xxx."
Yes, most don't make that much money considering all the people who do make the money are the realtors (on the buying and selling end) the contractors, the stores selling tile, flooring etc, the tax man, the gardener etc.
A few do, the smart ones who buy low, in the right location, one with cosmetic fixes not major structural work, and stick to a budget and a plan. These folks can make money even in a down market.
Still, I like International Home Hunters because it has to make you think, What kind of idiot buys a $800,000 house in Honduras or a $350,000 cottage in Italy they'd only stay in two weeks a year?
Talk about disconnect between price and incomes in those areas.
The Big Flip
I can't wait for "house 3" to not sell because it has been over-built. Those knuckle-heads bought a cute little house that had just been renovated with new floors, kitchen and was otherwise in nice shape. WHY would they gut it given their experience with H1 and H2? A few modest modifications may have served them better.
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