The Enormous Divide Between the Headline and the Truth

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The Enormous Divide Between the Headline and the Truth

“I have observed that not the man who hopes when others despair, but the man who despairs when others hope, is admired by a large class of persons as a sage.” – John Stuart Mill (1840s)

Even back in the mid-1800s, people knew that negative news sells. That is still true today. All forms of media realize that they will get more eyeballs, clicks, likes, and engagement by posting something negative. However, they must realize that negative headlines impact markets.

Just last week, the National Association of Home Builders released a survey revealing:

“Negative media reports making buyers cautious was a significant problem for 48% of builders in 2018, but 62% expect it to be a problem in 2019.”

Even today, good news is headlined with a negative spin in order to get attention. Here are two recent examples from mainstream media:

Actual Headline #1: Cash-out refis are back – will homes become ATMs again?

The real story: The headline is accurate – to a point. It is true that the percentage of refinances in which the homeowner received cash at the closing has increased to levels that existed in 2006. However, the actual amount of equity homeowners “cashed-out” compared to a decade ago isn’t close.

The dollar amount cashed-out last year was $63 billion. That seems like a really large number until we compare it to 2006, when homeowners cashed-out $321 billion. That is more than five times the current amount.

In 2006, people did use their homes as ATMs. They purchased new cars, boats, and lavish vacations. Today, the cashed-out equity is being used to consolidate debt, as seed capital for a new business, or to help a child with their college tuition.

Actual Headline: Consumer Debt hits $4 Trillion. Americans are diving deeper and deeper into debt.

The real story: The first sentence of the headline is accurate. The second sentence couldn’t be further from the truth. Total consumer debt is the highest it has ever been. That’s because the population continues to grow, and so does the economy (prices and wages).

The important number is how that total debt ranks as a percentage of disposable personal income. That percentage is the lowest ever recorded!! People are not “diving deeper and deeper into debt”. The exact opposite is true. They have less debt now than ever before.

Bottom Line

If you are thinking about buying or selling a home, it is important that you have a true professional handling your real estate needs. Someone who knows the truth about the current economy and its potential impact on the housing market.

 

 

Mortgage Brokers in North Palm Beach FL, Christian Penner Mortgage Team, North Palm Beach FL mortgage lender specializes in conventional, FHA, VA, Jumbo and Reverse Mortgages. Competitive Rates, Apply Today!

 

 

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Christian Penner, Branch Manager Mortgage Broker West Palm Beach talks about Real Estate West Palm Beach. He also serves other Local Areas and provides home Mortgage Solutions for Palm Beach Gardens, Jupiter, Boca Raton, Wellington and Tequesta. Christian Penner Mortgage Broker Jupiter has the lowest mortgage rates and the best home mortgage programs like; Jumbo loans, FHA Home Loans, VA Home Loans, Reverse Mortgage Home Loans, Freddie Mac Home Loans, Fannie Mae Home Loans and HARP Mortgage Loans. Christian Penner Mortgage Broker Palm Beach Gardens has Served the area for over 18 years with his Home Loan Lending Needs and Works with The Christian Penner Mortgage Team. Ask Me About A Mortgage, Palm Beach Mortgage Lender, West Palm Beach Mortgage Lender, Palm Beach Gardens Mortgage Lender.

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