I do believe that at some level, there may be some corruption. However, I still maintain, that most people do not believe that a RE bubble is at hand. The herd mentality always rules the majority. People get really excited right at price peaks, and really depressed at price troughs. This is why the average Joe, never gets ahead.
I think alot of media people, just get influenced by the people they talk to. Alot of those people are RE insiders, who give them the “it’s all good” story. Then in turn, they report it.
If you want to read a blog from a prominent writer for a newspaper, check out Jonathan Lansners from the OC Register in OC. He has been calling for the drop for 2 years, and been wrong. However, he is very open minded in what he writes. He is no shill for the RE insiders.
