Last night on CNBC’s Mad Money with Jim Cramer, the show had some interesting news for those watching the real estate market. Jim Cramer was sadly pointing out that despite the facts, the housing sector continues to be the whipping boy for the media. His primary example, the venerable Wall Street Journal.
On July 28th the WSJ ran a headline that said “Home Prices Rise but Outlook for Sector Dims.” Then again yesterday they ran a similar story, “Home Prices Edge Up but Outlook Darkens.” So despite continued good news in the actual market, we’ve gone from a dimming of the market to a darkening. If this “look at the facts don’t listen to the headlines” story sounds familiar it’s because I said this a month ago. (See Here) So what has all this fear mongering cost us? Well according to Cramer it’s cost us a 10% dip in the market. On the upside it’s probably done wonders to boost attendance Stephen Colbert’s Keep Fear Alive March. Remember, always look at the actual numbers not the headlines.