The Media can take any news story and turn it into a disaster, such as the news that the average home price has fallen 4.5% in the last measuring period, right?
So this is supposed to be a cause for panic.
“Oh, no! The subprime lending market is going down the tubes. Home prices are falling! Abu Dhabi is infusing cash into Citigroup! Oh, no! Oh, woe is us.”
Wait a second! How about for people who aren’t able to afford houses and now might be able to because the price is down 4.5%?
These fluctuations happen constantly, and yet what’s great about it is, it seems that the American consumer is not playing this time.
Seems like they’re not playing along with all of the doom and gloom.