‘B.C.’s real-estate market looks good despite uncertain economic times ahead‘, by Carlito Pablo, Georgia Strait [straight.com 24 Aug 2011] is justifiably getting local blogosphere air-time. Read the article, and Gord Goble’s criticism in the comment section.
Excerpts from Gord’s comment -
“So, Georgia Straight, you’ve finally sold out completely, huh? Good for you. You’ve now joined the long line of mainstream media outlets that endlessly pimp for the real estate industry.” …
“Here we have a headline that does not reflect the full contents of the article, and certainly doesn’t reflect the fact that this bubble (and it is a bubble – driven purely in recent years by emergency low interest rates and media-fueled, unsustainable mania) is deflating. The Okanagan, where prices are off 25% or more and still nobody is buying, the Fraser Valley, where sales are at a standstill, Vancouver Island, Squamish/Whistler – in all these regions, people who bought in recent years are now trying to get out at a LOSS.” …
“I remember when the Straight told it like it is.”
As ‘jesse’ points out elsewhere, take a look at the volume of RE ads in the Straight, and consider possible conflicts of interest.
The latest print edition of the Straight [25 Aug- 1 Sep 2011] has 72 pages total, 44 of which are ads, 7 of which are RE ads. By rough estimate based on one edition, 16% of the Straight’s total revenue comes from the RE industry.
Perhaps, however, nothing too much has changed. The Straight did run this cover in Nov 2009.