Is the Media reporting the facts?

Is the Media reporting the facts?

The sky is falling! Home sales plung! Record slump! The Bubble has burst! These are just a few of the "National Enquirer" type headlines that have graced much of our media for the last year; but are they accurate?

Yes and No!

Yes... in that sales were less than the year before. Yes... that prices dropped in Carlsbad, San Marcos, Oceanside, etc. Yes... that inventories grew from 2 months supply to 9 months supply! So if that's true, how is this "media spin?"

Easy. You will also not see mentioned that since 1996, homes have more than tripled in value. The median priced home in San Diego grew from $166,000 to over $540,000! Not to mention the additional tax savings that come with ownership!

No headlines mentioning that 2006 was the 3rd best year ever! Sure prices dropped, but why not mention these types of statistics? Simple.....ratings and readership!

Negative news sells better than good news! Negative 'spin' creates better ratings/readership, which turns into better ad revenue.

My word of advice, do your own thinking! If demographic growth estimates are correct, and San Diego adds another 1,000,000 people in the next 10 years, where will they live and what will that do for housing prices? New home growth might help about 100,000 to 300,000; which means housing prices will have more demand than we do now!

Long term investors are ecstatic with current market conditions: low interest rates, lots of inventory, yearly season slow down, media throwing out negative hype to get ratings......things couldn't be better!

Take advantage, these conditions won't last!

All the best
Marc

For everything you need to take advantage of the current real estate market go to: http://www.MarcVonMusser.com