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When bad news is not big news

Even a few months ago, news that foreclosures are spiking would have been big news in Massachusetts. Not these days.

The explanation given in the Globe sounds reasonable — maininly that foreclosures are now seen as a lagging market indicator, sort of the way unemployment numbers are seen as a lagging recovery indicator.

The housing market is still fragile. We’ll have to see how everything goes after all the federal stimulus programs finish. But it’s looking much better these days.

Read other posts about: Foreclosures, real estate and the economy

Posted by brendan on 04/23/10 |
| Read 3 Comments »

3 Responses to “When bad news is not big news” »»

  1. pain in the
    Comment by pain in the | 04/23/10 at 3:41 pm

    Not to be rude, but is there any spin that wouldn’t sound reasonable to a person who’s lively hood depends on real estate transactions.

    I MIGHT agree with you if employment was dropping dramatically or foreclosures had reached a peak and were on a multi-month downturn, but this is really stretching.

  2. pain in the
    Comment by pain in the | 04/23/10 at 3:42 pm

    excuse me, I meant unemployment.

  3. Mary
    Comment by Mary | 04/24/10 at 8:20 am

    “Paul Willen, a senior economist for the Federal Reserve Bank of Boston, said that even if it’s too late for many struggling homeowners, the housing market in Massachusetts has gained momentum.”

    Check out some of Paul’s other fine work…

    http://www.tnr.com/blog/the-stash/falling-home-prices-or-declining-standards#comments

    Oh brother…

Leave a Reply »»

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