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Real Estate Headlines- Absurd!

November 3, 2010

Headlines… who needs them!  Now that the election is over, the media can finally turn back to our grim economy, wait, I mean our recovering economy, wait, I mean the years of foreclosures ahead of us, wait I mean stabilizing house prices… AHHHHHHH!  How in the world is anyone supposed to make sense of this mess according to what is being reported out there?  I subscribe to many sources of industry news and it gets funnelled to me on a daily basis through many means, twitter, facebook, email, linked in, etc. etc.   Below is what faced me when I opened one of my sources one morning last week… (the black type is my little commentator living in my head that has to translate everything I read into “Amiee speak”):

Completed Loan Mods Now Top 1.4 Million for 2010: Report…Yeah!!  the solutions are finally working!

Fitch Says 7M Homes in the Shadows Will Take 40 Months to Clear—Oh no, this industry will be in the toilet for another three and a half years!

Single-Family Delinquencies Fall for Both Fannie and Freddie-Yeah!  The economy is stabilizing- things are finally getting better!

Survey: CRE Down Payments Shut Out 1 in 5 Small Business Owners– Oh no, if the cornerstone of our economy is small business, things are not getting better!

Not only do these headlines conflict with each other, they conflict with what I am experiencing on a daily basis.  I haven’t even come across a smidgen of  a fraction of people that have had a successful loan mod.  I havent seen a flood of foreclosures on the market.  I havent had a decrease inthe number of calls Im getting to help people through shortales because they cant afford to live in their house any more.  With so much information out there speaking to both sides of the equation, no wonder we arent getting anywhere.  We are chasing our tails trying to learn the truth!  Of course, its all the truth, its all about spin.   I went to dictionary.com to find the appropriate definition to interject here and I had to laugh when I read ALL of the definitions, realizing they ALL apply!  (Well, I couldnt make number 10 apply). 

1. to make (yarn) by drawing out, twisting, and winding fibers: Pioneer women spun yarn on spinning wheels.
2. to form (the fibers of any material) into thread or yarn: The machine spins nylon thread.
3. (of spiders, silkworms, etc.) to produce (a thread, cobweb, gossamer, silk, etc.) by extruding from the body a long, slender filament of a natural viscous matter that hardens in the air.
4. to cause to turn around rapidly, as on an axis; twirl; whirl: to spin a coin on a table.
5. Informal . to play (phonograph records): a job spinning records on a radio show.
6. Metalworking . to shape (sheet metal) into a hollow, rounded form by pressure from a tool while rotating the metal on a lathe or wheel.
7. to produce, fabricate, or evolve in a manner suggestive of spinning thread: to spin a tale of sailing ships and bygone days.
8. Rocketry . to cause intentionally (a rocket or guided missile) to undergo a roll.
9. to draw out, protract, or prolong (often fol. by out ): He spun the project out for over three years.
10. British . to flunk a student in an examination or a term’s work.
11. Slang . to cause to have a particular bias; influence in a certain direction: His assignment was to spin the reporters after the president’s speech.

Now Im not trying to create some big point blaming the media, they are the cause for all of the troubles, blah blah blah, I just find it perplexing, scary, hilarious that there is so much conflicting information being headlined every day, multiple times a day.  It can really wear on a persons emotions and sense of security.  I have no answers here, and I realize that I am exposed to far more information tidbits (and pay attention to) than the average joe, so I try to pick and choose what comes in and what stays out.  Honestly, sometimes the absurdity of what I hear and read is beyond comprehension.   Well, I have no fancy way of ending this, so sayonara and dont believe everything you read!

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