San Francisco Real Estate - Residential

Real Estate market economist presents a rosy picture at the Coldwell Banker Previews Retreat

Today in Monterey at the Coldwell Banker California Previews Retreat, real estate economist Gary Watts put the gloom and doom of the media, in our case, the San Francisco Chronicle in perspective. He pointed out that bad news sells. Considering that newspaper subscriptions and the number of people watching network news have dropped dramatically, maybe that is not really the case. Apparently BAD NEWS does not sell either. Especially when it is a distortion of what's really happening.

In about 2 hours he dispelled all the points the news has been making with facts and figures. He did not say why the media is intent on doing this, but I have heard other financial people say that it is because the big news corporations are heavily into the stock market and want people's money there. I do not know this for a fact, but it certainly makes sense. Another guess might be to alter the reality about how good the economy is really doing under the Bush tax cuts and help get a Democrat elected next term.

Regardless of the reasons, he predicts we are in the 23rd month a what has historically been an average of 27 months for housing downturns. Even so, San Francisco done well during this supposed downturn, so does this mean it will do even better??? We think so.

Here is a link to the PDF which is rather large, but there is some great information, particularly launching into what the media has been reporting as inaccurate and misleading.

- Mick Orton

posted by SFResidence.com @ 10:04 PM