Media making real estate problems worse
Trevor Davis of the Frederick News-Post in Maryland writes Tuesday that a local real estate association president blames the media for making the real estate situation worse than reality.
Davis writes, “Journalism and business experts said media coverage stems from the troubled housing market.
“‘What’s going on as far as declining housing prices is a reflection of economic fundamentals,’ said Steve Pilloff, a Hood College management professor who blogs for The Frederick News-Post. ‘If the media is being accused of painting a doom-and-gloom picture, that’s a reflection of what’s going on.’
“Riggs partly blames the media for some consumers not buying homes.
“‘The reason they aren’t is because they are afraid of the present market because of the press,’ Riggs said. ‘That’s why the number of foreclosures in relation to all sold (homes) is high.’
“The real estate industry has an interest in portraying an environment that will sell houses, said Bernie Kohn, president of the Society of American Business Editors and Writers, a nationwide organization that represents business journalists.
“‘That’s not our duty,’ Kohn said. “Our duty is to inform consumers about the reality of what’s going on, not to put spin on it for the benefit of the real estate industry.'”
Read more here.