We’ve long detested the media’s interference into our market place. Let’s face it, they don’t really report the news for the most part, they are out to sell papers and make headlines. Real Estate in Vancouver is the easiest accessible fodder for the masses. The media purposely stirs up the emotions of the public at large, and they are good at it. Not so say on occasion they do break a real story, but even then, the focus is on upsetting everybody. Funny how we all eat it up, but that’s a psychology blog.
Recently there has been some people who are making it their goal to attack Vancouver’s Real Estate market. Which is odd, why Vancouver? Why not NYC or London. Have you read about this guy? https://betterdwelling.com/city/toronto/marc-cohodes-short-canadian-real-estate/
A quote from the article “You may not know who Marc Cohodes is, but the 55 year old retiree is a Wall Street legend. So when the man the New York Times once called “the highest-profile short-seller on Wall Street” decided to come out of retirement, we were dying to get in contact with him to see what he was betting against – turns out it’s the Canadian housing market.”
Also just last week, Andrews Group – along with several prominent realtors, received an anonymous e-mail. In this e-mail the writer threatens to use social media to drive down Vancouver’s real estate market till it drops 50%. Seriously?
He or she claims there is a group of them (digital media gurus) who have taken this on as a challenge and they will spend 30 minutes every day on social media attacking the stability of the housing market and they won’t stop till it drops at their goal of 50%….Weird? Why? Don’t know, but they are angry at REALTORS® because of the current climate, are threatening to hurt us, and think we are responsible for the situation.
Will they have an effect? It will be hard to say what is a natural course of events, what is fabricated, and what is hyped. How do you decide in the age of persuasion?