Beware the Cheerleaders
Despite the overwhelming evidence showing that the real estate bubble has popped and that price declines still have a ways to go, you will inevitably come across real estate cheerleaders. Now I don’t mind it when lay people make a case for buying real estate now. When professionals dishonestly or ignorantly try to convince us that now is a good time to buy real estate and the worst is behind us, I take exception.
Take for example Connie Degroot, a Beverly Hills realtor. Thankfully Peter Schiff sets the shyster straight. The problem is there are more Connies out there than Peter Schiff’s.
Hat tip to Chris over at the Housing Panic Blog.
Real Estate Cheerleader
Notice at the end of the video, our realty cheerleading friend is so shook up she forgot she was a realtor. She states “I’m not selling anything”. Oh yeah, what did we just watch? Style over substance. What do you expect from a Beverly Hills realtor?
Here is another cheerleader to be wary of.
As usual, out of touch with reality. The antidote to accepting bad advice from cheerleaders is knowledge. Steer clear of mainstream news sources. Dig a little. Look for opposing view points. Then make your decisions.
For the life of me, I can heard nothing from the President in that video that I would consider to be cheerleading.
Also, whoever posted that video is an ignorant to the term “core” inflation.
You must have missed the opening statements where he states “financial markets are strong” and the “economy is on a solid foundation”.
The debt markets are falling apart daily. The economy has been fueled by consumer debt. How can the economy be on solid foundation when it no longer has the fuel provided properly functioning debt markets? Aren’t the debt markets the “financial markets”?
How can the economy be considered to be on solid footing when our banking system is very near insolvency? If the banks were forced to buy back all of their questionable loans, many would be insolvent. There are buyback provisions for fraud and fraud has been rampant (especially on the securitization level).
He is also cheerleading his initiatives to address the mortgage meltdown. The initiative misses the core of the problem and will have very little affect on the crisis. But it sure does look like the government is doing something and cares. Sure he cares. Not about the average homeowner but rather his banking cronies whose butts he seeks to cover.
Core inflation had nothing to do with the post so I don’t understand your reference to it but I certainly understand the term. Core inflation has very little to do with everyday life and the real cost pressures real people face.