Over the past couple years, the press has used the words “housing bubble” many times. We won’t excuse the media, which at times, can take on a herd mentality.
But it’s always interesting to hear a Florida real estate investor blame the media because he can’t make a quick flip. Of course, it’s alright when headlines mention a “red-hot market,” but any reporting on “cooling off” is just no good for business. So, instead of blaming rampant construction, increased speculative buying, why not take a jab at the media.
Unfortunately, today’s Wall Street Journal feature–located on the cover of the Marketplace section–is not available online. But we’ll recount this poor flipper’s story after the jump.
– Michael Calderone
Here’s how it begins.
So, he couldn’t make a fast $107,000 profit overnight. There has to be someone to blame for this injustice.
Perhaps it was overvalued?
Our solution: make headline type less bold.