August 29, 2007
Housing bubble enabler Blanche Evans of Realty Times in an illogical diatribe again blames media for housing panic
Blanche, Blanche, Blanche...
Panic Working Like A Charm; Home Prices Mostly Down In June
by Blanche Evans Realty Times
Despite positive fundamentals such as low unemployment, rising wages, and low borrowing rates, consumers are panicked about the housing market and sitting out a golden opportunity to buy at low interest rates with plenty of inventory to choose from. One reason is the constant drumbeat that housing prices are softening by the press, but consumers aren't getting much insight or perspective along with the daily drip of bad news.
If the media and economic experts are saying that home prices are going to fall further and then recover, is it so strange that buyers are waiting? My question is why is it "denial" for sellers to wait out the falling prices part to cash in on the recovery part?
That's what makes this whole thing so funny. Somehow it's okay for buyers to panic, but not for sellers to remain cool.