Don't sugarcoat bad news in real estate industry
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Indeed the paper first published an article that must have infuriated the REAL ESTATE AGENTS, because shortly thereafter they published another, which "sugarcoated" the reality of the sale. They must have been bombarded with calls that made them change the "message". I think this LETTER hits the nail on its head!
Saturday, February 21, 2009
I understand the need for all of us to be supportive of homeowners but the recent self-censorship your Web page has carried out is counterproductive. On Feb. 11, the headline described a home sale which indicated that the real estate market on the island might finally be coming down.
(Feb. 12) the same article was cleverly reworded on the Web page to describe the same home sale as fetching a reasonable price. I understand that the local real estate industry has a vested interest in saving face with their sellers after telling them that a home purchased in 2006 is automatically worth 20-30 percent more today in 2009. However, your paper should not be playing in this farce.
It is not helpful for anyone for this insightful newspaper to practice newspeak and change the tone of an article in the favor of the real estate listing agents. I recommend that the Palm Beach Daily News begin to slowly break the news to home sellers that just like Manhattan, the Hamptons and Fisher Island, home values on the island are retreating as buyers understand that no one (or place) is an "island" against economic reality.
John Strasswimmer
West Palm Beach
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