I’m spending some time in airports this week, and I use that time to catch up my reading.  I came across an on-line article by Christina Pellegrini, “Why real estate doomsayers continue to be wrong.” The article originally appeared in the Financial Post Magazine.  There was something different and unusual about the article which left me out of sorts after reading it.  Figuring I must have missed the nuance, I read the article again.  Then it dawned on me. The story was fair, balanced and looked at both sides of the story.  That’s something which is sorely lacking when it comes to stories about the real estate/mortgage industry in our country.

For far too long the doomsayers have dominated the airwaves and print media.  I get it, it sells.  Crash, bust or apocalyptic meltdown gets more attention than a stable and balanced market.  But shouldn’t someone hold the doomsayers accountable or at the very least ask the question, “you were way off, please explain?”

Pellegrini attempts to do just that.  There was a great quote in the article from Canada Mortgage Trends, Rob McLister.  With respect to where prices may be at some point in the future, Rob said the following: “Anyone that purports to tell people where prices are going to be in two, three, fours years down the road is a fraud. Housing is stable at this point and there’s nothing on the horizon that we can say with certainty is coming that would derail the market.”

Facts and trends can be debated, and that’s healthy. The problem today is there doesn’t appear to be much debate.  Rob’s viewpoint, along with many other in the article, is not only refreshing but necessary.  A balanced story, irrespective of the topic, requires work.  It’s time for some to stop being intellectually lazy.

Until next time

Cheers