How does the media impact the real estate market? Frankly, the whole bloody modern economy is essentially a media event.
Aside from minor transactions, real hard money doesn't really exist anymore. Value is a perception, not a counting of coins. People become billionaires through the perceived value of shares in companies that often make no money or have any tangible assets.
One ‘expert’ is calling for "the bubble to burst"; a political leader is heralding "the recovery"; a leading banker cautions that rates may rise, unless they fall.
The moral of the story is that people (not just ‘average citizens’) are more confused than ever, thus paying less attention, and increasingly suspicious of financial markets.
Furthermore, Canada is perceived as one of the few countries without serious political instability or terrorism, potential weather or geological disasters, or incomprehensible national debt.
Government bonds are becoming marginally credible in most countries. Canadian bonds may be safer but are basically devoid of any return.
In the circumstances, owning real estate in Canada - and holding it long term - is one of the few understandable (international) investment options.
The media can certainly cause periodic or regional ups and downs in real estate, but the primary media impact is to make Canadian real estate seem like a pretty good thing.
By Harry Stinson Postcity.com
How can I help?
_______________________________________________________________
b r i a n m a y e r real estate sales representative
Royal LePage Your Community Realty Brokerage
independently owned and operated
187 King St. East Toronto, ON. M5A 1J5
(416)-637-8000
Helping You is What We Do.
A referral remains the highest compliment I can receive.
