How Bad Could It Get?
“Mr. [John Tepper] Marlin (former Chief Economist for the City Comptroller’s Office) expects that there will be more defaults on buildings as condominium and co-op owners fail to pay their common charges, and also more sales of foreclosed properties. Rents will continue to dip. There will be longer lines at the grocery store, because fewer…
“Mr. [John Tepper] Marlin (former Chief Economist for the City Comptroller’s Office) expects that there will be more defaults on buildings as condominium and co-op owners fail to pay their common charges, and also more sales of foreclosed properties. Rents will continue to dip. There will be longer lines at the grocery store, because fewer people will eat out. And he worries about unrest, citing hard-hit Iceland as a recent example. I’m concerned about people being so desperate that they lose the fear of losing their own lives and they become so desperate that they’re willing to endanger other people’s lives, he said.” — NY Times
“But where would the media be if they didn’t have those attention-grabbing, doomsday headlines to sell their stories?”
The media publishes these sorts of stories because people read them more than other types of stories. Plain and simple. It’s a business, above all. Take it from me – most journalists try to stick to their principles and do good work. However their publications need to STAY IN BUSINESS for them to have jobs, and BAD news sells.
“No wonder newspapers are in trouble.”
The newspapers aren’t in trouble because of the types of stories they’re writing. The newspapers are in trouble because technology changed too rapidly for newspaper owners to adjust, their revenues were DRAMATICALLY slashed, and there’s no end in sight.
“The media loves to put a spin on things and pump fear into the public.”
Because the public responds. The posts on this blog are an example.
There’s an old saying you all should remember when it comes to all media, everywhere: You can’t believe everything you read in the newspaper.
I have got a new addition to my “Tropic Thunder” vocabulary of doom, thanks to our resident schizo-apocalyptic:
‘GOIN’ PARABOLIC!’
“Cornerbodega, I have yet to understand why you frequent this blog. You have no interest in architecture, houses, neighborhoods or history, and offer nothing positive in terms of finance, homebuying or quality of life. Newspapers aren’t the only things full of it here.
More than three people do care about the details in the crevices of houses. That’s what built this blog, and a major part of what keeps it going.”
don’t kid yourself, this blog gained its following with people thinking $$$$$$ in bk real estate. If you haven’t realized this by now you need help…
dibs you’re still you’re speculative ghetto investment? Do you have no shame?
What….the dollar is strengthening. Remember, just because something moves dramatically doesn’t mean its a bad thing.
Dave Aisa and Europe went Tango Uniform! Plus with the events in Japan something is going on. I think on the F/X Markets someone blew up and need dollars real bad. Look at the overnight action, this is real bad!!!!!
I SMELL NAPALM!!!!!!
The What
Someday this war is gonna end…
Brenda – Loved your post. You are 100% dead on. The media loves to put a spin on things and pump fear into the public.
Wonder why Brownstoner chose to quote only the most dire forecast…
Cornerbodega, I have yet to understand why you frequent this blog. You have no interest in architecture, houses, neighborhoods or history, and offer nothing positive in terms of finance, homebuying or quality of life. Newspapers aren’t the only things full of it here.
More than three people do care about the details in the crevices of houses. That’s what built this blog, and a major part of what keeps it going.
Or just Last Week’s Biggest Sales, cornerbodega.