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John Manno

Beware of negative news

03-06-08
John Manno

Agents here is another article to learn from.

How To Insulate Yourself Against Negative News

Reports

by Denise Lones

Here we go again. The news media is back and playing its old game of

pummeling the airwaves with predictions of doom for the real estate industry.

"The Big Crash Is Coming," "Disaster Ahead," "The Bubble Is About To

Burst." Blah, blah, blah.

And it's working. People are scared. You can't go to a supermarket or coffee

shop without overhearing a conversation about how bad the market is.

Whenever you hear a piece of information pounded at you from different

sources, naturally it's going to sink in.

But it's up to you to think. Don't just blindly believe a newsreader just because

they are on television. True, numbers have been falling. Nobody can deny that.

But, the "end of the world" hype is just not supported by any evidence. You

must always remember that news media love predictions of disaster because it

scares people into watching the news-even if it never happens.

This phenomenon of modern news is on display every time a storm brews in

the ocean. Suddenly, the Final Days of Earth are upon us-then the storm turns

to a little rain and it's all over. News people love reporting about imminent air

disasters, L.A. car chases, and Wall Street's ups and downs.

The problem is that the facts don't support the wild claims.

When a market crashes, there must be a catalyst for that crash. There isn't one.

There are only fluctuations. Today's fluctuations may be swinging downward

more than last year, but it's by no means a crash. There has been no event-

like the stock market crash of 1929 or other disaster-large enough to cause a

crash.

Further, I'll go on to say that we are in one of the best times in real estate

history. No, I'm not kidding. I'm very serious here. While agents are panicking

all across the country and thinking about getting back into the corporate world,

I say this is the best time to be a real estate agent.

The news media would laugh at me, but they're not in the trenches every day

with me and they don't see what I see. What do I see?

􀁺 A strong economy. This is a key factor in any analysis of the real estate

market. The current economic viability of the United States ensures that

no matter how wild the real estate market fluctuations may be, there are

still people with money. And people with money will always want new

property.

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