Housing Bubble, What Housing Bubble?
Instead of worrying about the burst of the â€śhousing bubbleâ€ť you might as well watch paint dry or your grass grow. CNNâ€™s â€śAmerican Morningâ€ť is no longer forecasting doom and gloom for the
Willisâ€™s statement was in contrast to comments made earlier this year on American Morning. On March 22, Soledad Oâ€™Brien said â€śIf you are worried about the housing bubble bursting, sell, sell, sell, itâ€™s a sellers market. Weâ€™ve got some tips on how you can get your money out of the market right now.â€ť So though it may have â€ścome as no surprise to home ownersâ€ť it certainly should have been a surprise to CNN that Federal Reserve Chairman Ben Bernanke said the slowing housing market is coming in for a safe landing.
On the July 21 edition of American Morning in response to a report on Bernankeâ€™s comments, anchor Miles Oâ€™Brien laughingly suggested that Bernanke wasnâ€™t â€śgoing out on a limb.â€ť Bernankeâ€™s comments were characterized as â€śkinda boring, like watching grass grow.â€ť â€śHome owners it comes as no surprise to you,â€ť Willis concluded. The term â€śhousing bubbleâ€ť was not mentioned.
The Business & Media Institute has previously documented CNNâ€™s emphasis of the â€śhousing bubble.â€ť In December 2004, Kitty Pilgrim discussed signs of weakness in the real estate market. She stated, â€śNew home sales fell 12 percent last month. And that was the biggest decline in nearly 11 years. The new home sales report is the second in a week, signaling a possible slow down. Last week housing starts posted the biggest decline in 11 years.â€ť That November 2004 report ended up being an anomaly, and real estate sales continued strong in the months that followed, as did the economy.