Why? I guess the way I see it is that this media needs an audience. If George “Money in the Morning” Chamberhead starts spouting that RE is way overvalued and is getting ready to tank, most people who listen to his show will change the station. Nobody really wants to hear that their largest investment is going down in value. Even if many of them know this to be true. You can sell a lot more advertising singing to the choir. George’s job is to maximize his audience or he will lose that job.
I look at the media as a barometer, not a source of info. Right now the media reporting on RE says there is still an awful lot of denial out there. But I do see some signs that denial is beginning to crack.
