Saturday, 21 July 2018
Is the real estate market half full or half empty?
While this little test may or may not be effective, especially when it's so well known that people can adjust their response, it does illustrate that the same situation can often be interpreted in two very different ways. You see this a lot with news media and headlines about the real estate market.
The other day, CREA released nationwide real estate market statistics. Based on exactly the same release of information, some news sources present it as good news and others as 'bad'. For examples, Better Dwelling focuses on the year-over-year gain in prices and suggests a dismal situation with prices making ["the smallest advance since 2009"]. Meanwhile the Financial Post focuses on [Toronto's 17% surge since the spring] and the Canadian Real Estate Magazine perceives this as [a possible turning point for the market] to rally.
It always amazes how much the news can be influenced by the perspective or opinion of the person writing it. Still, I'm not saying not to read the news or not to trust them.. just to use a little critical thinking, examine more than one news source, and maybe learn to look at the source stats yourself.