Miami Herald’s coverage of real estate market creates self-fulfilling prophecy
I have to admit, I rather enjoyed this story from the Miami Herald website. Basically it reports that the parent company of the Miami Herald, McClatchy Co., reported a 9.5 percent decline in their second-quarter profits and they have attributed the loss to a “sharp falloff in real estate advertising…”.
For the past two years the Herald has reported on, and seemed to hope for the meltdown of the South Florida real estate market. Now while I’m all for transparency in real estate, it felt and read as if the Miami Herald went out of its way to CREATE the real estate downturn.
As a real estate professional, I know that the only people who look at the real estate section of the newspaper are the sellers, NOT the buyers. It is common knowledge that over 70% of the BUYERS of real estate start their search on the net. It would seem that the Miami Herald asked for, AND got, what they deserved.
