Donna, I’m not debating points of view. I am asking whether she was uneducated (uninformed, lacking knowledge) or unethical (misleading) in her statements which are factually incorrect.
She states that increasing population is the reason behind high home prices. Fact: our population is decreasing. The Census Bureau report showed San Diegans are leaving San Diego in large numbers for the first time in a decade. This was on the front page of the Union Tribune a couple weeks ago.
She also states that our geography limits new construction, so this drives up prices. However, this is false. Builders are building like crazy, and there is plenty of land for them to do so. As far as land-locked: prices in Phoenix and Las Vegas shot through the roof and they are not land locked. So housing prices have nothing to do with being landlocked. Japan actually is land locked, yet their prices have fallen for 11 years.
As far as my situation, I sold my house because of the housing bubble. I am not investing in real estate, because at this time it is a rapidly depreciating asset. We took our profits, and invested them in a 4 month CD earning 4.75% interest.
May I suggest that you and Rima read the Bubble Primer. I don’t think you or Rima have to enjoy reading, but salespeople must have basic knowledge of their products and the environment in which they compete. They also must be honest in their marketing.
What Rima has done in her marketing materials is false and misleading representation. I heard on the radio recently some NAR ads about high realtor morals. Part of the obligation a realtor has, if they do have morals, is to give accurate information.
Perhaps she was uneducated about the facts. Your defense of her makes her sound like a nice lady. She didn’t know better, but now she does. Now she has the responsibility of making a retraction, so no further damage is done, and so she can uphold the high moral oath of the NAR. If I were embarassed like this in my profession, I would make a quick retraction. I also suggest she asks for proofreading of her marketing materials. However, in professional and business communication, and marketing materials, one must take more care in how one presents oneself (grammar and accuracy of facts).
I stand proud by my original post. But my question has been answered.
