We are all potential victims of those who make a living at others’ expense. They might argue that they have a right to profit regardless of consequences, that if you are a victim, it’s because of your own ignorance. I’m thinking of people like journalists whose jobs are more secure if they can write more sensational pieces that sell newspapers: “The Sky is Falling”. Often it’s just the work of headline writers, and if you read the story under the headline, it doesn’t correspond!
For months our local newspapers have been publishing front-page alarmist headlines about the economy. The unemployment rate has gone up only a half percent, but you’d think it was The Depression of the thirties. But largely because of all the gloom & doom, the resale home sales have gone down by more than 20%! It’s not that buyers don’t have the money. Two homes in my area sold two days ago for almost $100,000 over the asking price, with four offers on one, and six on the other! This, while others sit unsold — but unrenovated too. It looks as if there are a lot of buyers with money, and they want the best. They don’t want a place that “needs work”. And they’re willing to wait – so the market waits. But it’s not because of a downturn in the economy.
That will probably begin soon, but not “crashing”! And much of the downturn will be a direct result of sensational headlines selling “news”….