This article featured in the October 12th Sunday edition of the San Francisco Chronicle Real Estate section (K20) is emblematic of sensationalism rampant in the media.
I don't care how many times I hear the media defend itself with a thinly veiled excuse for this sort of distortion by saying we're just reporting the facts, their headlines reveal a different motive-to sell papers.
The article actually tells an entirely different story than the headline insinuates. A more appropriate title would have been "Many Mortgages are still available..."not "Some".
In fact, most mortgages are still available despite what the media's headline would have you believe-and their article even says so, they just don't admit it in their headline.
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Just another example of how the media spreads misinformation - if there's one thing that I've had to tell everyone that I talk to over the past few weeks it's this - THERE'S STILL MONEY AVAILABLE! I don't know how many people I've told that banks are still lending - the only difference is they're using common sense now!
Thanks for putting this out there and helping separate fact from fiction.
Between the media and the lobbiests here in America, it is difficult for the average citizen to get the real truth. We are seeing this in respect to the Real Estate Industry as well as the Financial Institutions and the 'Big 3'
The newspaper here has tried their best to create so much fear in consumers and they don't care to whom they destroy in the process. I personally know some people that our local paper printed some things that has hurt their career dramatically and the things turned out to be so untrue but the paper doesn't do anything to correct the wrongs they have created and the small print where they place their apologies never even get seen so I am too very disappointed in the media...
I just read the paper and don't really believe everything I read. I draw my own conclusions.
I seldom believe what is written or comes out in the news. I have a hard time believing anything in totality that comes out in even the local media.
Sunil, I couldn't agree with you more. I can still get people approved for a loan in just days--they just have to be qualified.
Thanks for the responses.
John & Tony, I agree that there's a lot of misinformation but this was a good article with a bad headline--I mean the two don't even jive with each other.
D & C - I think the best news is that you have the ability to get the right message out either thru your blog, or as a comment on the article itself (SFGate online), or a combination of both.
The media has always gotten it wrong, maybe no more so than today, but we as professionals have the ability and the duty to set the record straight.
The article is too old now but when something is first published (like this) I love it when a local Agent steps up and offers their educated opinion.
Want to have the reporters contact you for a quote or interview? Go to their article and leave a comment. They'll soon come to recognize you and call you when they have a question for the next article.
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Hi Mike,
Excellent idea. I send stuff off to Inman news but raerly get a chance to send one to the Chronicle. I fear I might find myself slipping into a full time jop of commenting on their stories. :)