It's all the media's fault

[cube]

ROTFL.......from the Herald

It's the media - not the economic cycle or high interest rates driving down house prices, say real estate agents.

Alistair Helm, the chief executive of realestate.co.nz, - the website owned by the major agents, says media stories have "an immediate and significant impact on buyer and seller behaviour."

"We all know buying a home is the most expensive purchase most of will ever make and one fraught with uncertainty and complexity. So it's quite incredible decisions around it can be so dramatically influenced by media stories", said Helm.

[k1w1]

Smacks of the last wish of a desperate man.

[Green Fish]

This guy's even worse than the previous one.

And I note that his comments have been reported in "the media". So watch for a big surge in turnover, starting tomorrow.

[67910241]

I'll go on to speculate this is a preemptive defensive counterstrike to apportion the blame for the imminent first year-to-year REINZ median NZ price drop in almost 10 years, a fairly important real negative event that the media will obviously milk dry, as well as to try and preemptively paint the media as the "bad lying guys" whose news shouldn't be listened to even if they actually come from REINZ .

[outspoken]

I just can't for the life of me remember the REINZ complaining over the last 5 years that...the media are hyping this market....publishing this boom in property is bad...this market is over-heated, it needs to stop...or some people are going to get hurt...
oh no but now the media is publishing the hurt...the REINZ is squeeling like stuck pigs!

[equitysurfer]

Originally Posted by k1w1

Smacks of the last wish of a desperate man.

I agree, BUT the agents do have a point.

The "Doomsday Star Times" and most mainstream media seem to have a large focus on the negative news. Sure it sells more papers but come on.

The same thing seems to be happening in Australia but with less negativity in the news?

What is everyone elses thoughts?

[k1w1]

I think he sounds like those blue-rinse bozos that go around telling everyone it's no wonder there's so much violence in the world, with all the violence on TV. Whereas the media would say they're reflecting society, not guiding it.

I really like outspoken's reply. Spot on.

[mlkmnz]

I'd almost agree if this wasn't coming from agents. Must suck to have to work for a living.

[Austrokiwi]

I was laughing as I read it..................... Now I was reading recently that realestate agent incomes (on average) remain fairly constant, what changes between good time and bad is the number of Agents in the market. I guess the old hands will keep earning what they always did and a lot of others are going to become taxi drivers etc.

A few Weeks a go Tony Alexander produced an interesting graph it showed how many people suffer ( my words) when any market is poor. From memory I think it was about 40% He pointed out that there is still a significant percentage doing extremely well. Obviously the person complaining in the media is not in the latter group!!!!

[leapy]

Open your eyes people and see this for what it is. All the man said is that with the advent of internet technology a direct correlation can be tracked between negative media headlines and property website hits.

This entirely makes sense and really should come as no surprise to anyone. It's fully accepted that news sentiment affects the the sharemarket on a day by day basis. Why not the property market?

Furthermore, shame on Granny Herald for the opening sentence of the article, which is completely misleading and not supported by comments made in the rest of the story.

Ironically - this plays exactly into the notion that the media is becoming more and more salacious in an attempt to generate revenue.