‘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.
Vancouver Real Estate Anecdote Archive 
Thanks, VREAA, for maintaining in your shortened quote the key point of my admittedly over the top argument. The text of the article was, as a whole, somewhat balanced. Sure, they quoted the vacant nothingness of realtor Escueta, and the certifiably mad thoughts of real estate fianance “specialist” Pavlov (“There’s no other place to put your money”), but the author also dealt in reality throughout much of the piece. However, headlines form perceptions, and that, to me, is where the Straight showed its true, deceptive, pimp-tastic colors.
At least they’ve had the nuts to post the comments thus far.
Gord -> The whole comment was a good one.
Hang onto your copy; if it disappears for some reason, we can archive the whole thing here.
…Simon Fraser University’s Andrey Pavlov. According to the associate professor of business… “There’s no other place to put your money,” Pavlov told the Straight in a phone interview. “All other investments are suffering a lot.”
Note to self: Never to allow my kids to attend SFU for business…
Well it’s not really a surprise is it? Just go to the very back pages. They are pretty good at pimping for the regular flesh trade so it would be an easy step to go over to the real estate trade… I guess the question would be which ‘trade’ will eventually be more damaging to Canada in the end.