Media is like the street dogs you see around you. It runs with tail wagging to ANYONE who is willing to feed it. Except that, unlike Media which spouts all the rubbish about ethics and morals in reporting, the dog does not have that pretense (it is at least honest about its intentions)!!!
And since it cannot bite the hand that feeds it, it paints a rosy picture about realty, right?
But reality will set in soon as the sun sets (albeit temporarily) on the Realty sector. Already the big company stocks are down 70% and they are desperate for cash. Recent rate hikes will hit them doubly as it will make it costly for buyers AS WELL AS for builders to borrow (they are screwed). They may survive but will probably decline to 85% - 90%. Smaller players may simply get bought out or die. There is going to be extreme pain in this sector. Watch out! Keep your money in cash and you will get some fantastic bargains around 2010 onwards.
When the Realty sector stops feeding media, watch the media turn on them and tear them up. Part of life on the fast lane, I suppose.
