On January 1, 2009 Opinion Research Corporation issued a press release titled “Seventy-seven percent of Americans believe that the U.S. media is making the economic situation worse by projecting fear into people’s minds.”
The majority of those surveyed feel that the financial press, by focusing on and embellishing negative news, is damaging consumer confidence and damping investment, making a difficult situation much worse. The poll was conducted via telephone, December 4 – 7.
The US survey of 1000 adults was conducted by Opinion Research Corporation and is statistically representative of the total U.S. population. The survey question: “Do you think the financial press is making the economic crisis worse by projecting fear into people’s minds?” While the overall response indicated that 77% of Americans answered YES, here are highlights of note:
$25k – $35k — 79% answered YES
$35k – $50k — 88% answered YES
$50k – $75k — 76% answered YES
$75k – more — 78% answered YES
This is not surprising news. Read the newspaper, turn on the TV, or listen to the radio and it does not take long to read or hear about bad news about the economy. Even commercials promote the bad news. Advertisers state how bad the economy is and because of the slow sales you won’t find a better time or deal then now for their product or services.
So if 7.7 out of 10 Americans believe the media has made the economic crisis worse what percent of the crisis is real? Local home sales transaction in Fort Mill and Tega Cay are down approx 40%. The big three car makers reported Dec sales off 31 to 52% compared to last year. What percent of the sales loss is real because consumers can’t afford to buy? What percent can afford to buy but are just holding off because they are scared to buy?
When will things get better? I did some blog surfing on this topic. A common point of view predicts the bad news via the media will begin to soften once the new President is sworn into office this month. I hope this predication comes true because we all need a break from hearing the bad economic news daily.
How does this news relate to local Fort Mill SC home sales? If you are thinking about buying a home but are sitting on the fence because of the bad economic news consider the following:
- You have many available homes for sale to choose from in several price ranges.
- Many are priced to sell based on the local market conditions.
- Mortgage interest rates for good credit home buyers are at an all time low.
- Buying and owning a home has become more affordable than a year ago.
If you want information on the current market conditions, home for sale inventories, and prices in the Fort Mill, Tega Cay, Lake Wylie, Rock Hill area please contact:
Carmen S MillerCentury 21® First Choice 206 Rockmont Dr | Fort Mill, SC 29708 C: 803-322-3479 firstname.lastname@example.org www.carmensmiller.com
Post is the opinion of the writer and not necessarily the views of Carmen Miller or Century 21 First Choice.