Let’s blame the media

The decline in the real estate market is just another example of the media being blamed for something we have no control over. Yes, we have published stories on the increase in the number of foreclosures and the overall drop in home sales. We would not be doing our job if we didn’t report those important facts. The number of public notices we’ve published on foreclosures has increased dramatically. Readers can’t help but notice that information. We have to report on it if we are doing our job.
I was at a recent meeting where one of the amazing forecasters from the Norton Agency spoke. Matt McCord began his comments by asking if anyone from the media was present. When I raised my hand, he said having someone from the media would change his remarks.
“Just the facts then, today… no opinions,” he said. “Glad I asked. That happened to me once and you’ll never forget it.”
McCord then began to outline his opinion that the real estate market is not as bad as it may appear. He said the 40 percent decrease in real estate sales in 2007 was due, in part, to 2006 having had two huge projects which inflated the overall figure. He said 2007 was the best year for Jackson County, other than 2006.
McCord also commented on the foreclosure situation. He said people who are being foreclosed on had their homes up for sale anyway. He also said foreclosed homes really didn’t change the housing market.
I don’t follow that logic. If the people had been able to afford their homes in the first place, they would not have them up for sale or would not have been foreclosed on. Perhaps it is the fault of the greed in the financial system that created easy 100 percent mortgages and that pushed people into buying homes they couldn’t afford?
Nah, it couldn’t be that. Must just be the media.
At the end of last week’s meeting, several people questioned who is benefiting from all of the “negative press,” hinting that it must just be hyped by newspapers to sell more papers.
But we are not benefiting from the housing crisis or the overall economic slump.
We, too, feel the effects of the economy.
At the end of the day, we’re just doing our job in reporting on the economic situation. The media didn’t create this crisis and efforts by some to spin bad information into good won’t help resolve it.
People may disagree with what this crisis means for the county and the nation, but please, don’t put on blinders and blame bad press for problems that run much deeper.
Angela Gary is editor of The Banks County News. She can be reached at AngieEditor@aol.com.