Real Estate

*****Update at end of post includes detailed response to unhappy e-mail messages concerning this subject.As someone that has done a lot of economic writing and financial media analysis, I'm used to gloom and doom from journalists. However, Saturday's Associated Press article concerning the credit crunch and how it's impacting the mortgage market could be the worst example of economic and…

Here's what a CNN e-mail I received said when the news was first released: Here's how the headline at the home page turned out mid-morning:

Uh oh, it's that time of the month again. Once a month, California-based RealtyTrac releases national foreclosure statistics and once a month, all three networks manage to overlook details in their reporting. But, this time, ABC's "World News with Charles Gibson" got it completely wrong.From the November 14 broadcasts:

The billionaire-turned-populist beloved by the media is in Washington telling Congress to keep taxes high. Warren Buffett, ranked as the 21st most influential liberal in the United States by the Telegraph (U.K.), appeared before the Senate Finance Committee November 14 to make his case against the repeal of the estate tax. And he used a very abnormal circumstance as his evidence.Leona Helmsley, a…

Talk about talking down the economy! No fewer than three times today, Matt Lauer invited Barack Obama to declare that the U.S. economy is headed into recession. At the end of a "Today" interview that focused largely on Hillary-related issues and Iran, Lauer turned to the economy and pressed Obama to predict the worst.View video here.

On a day when the National Association of Realtors (NAR) reported a rise in the price of homes so the average median price is above where it was a year ago, Wednesday's CBS Evening News featured a soundbite claiming “home price depreciation” unprecedented since the Great Depression. Apparently, reality wasn't negative enough for CBS, so they felt a need to add some embellishment. “The housing…

As NewsBusters has been reporting this week (see this and this), as the stock market hit new all-time highs, the media have been dour Nervous Nellies carping and whining about gas prices, the low value of the dollar, the housing slump, and the rising trade deficit. Yet, there are a variety of issues that press outlets have conveniently ignored during this record bull run that not only explain…