NBC Today: Despite Housing Bubble Pop, You Buy That $600K Second Home!

[The Cleaner]

When will the idiotic nonsensical network morning shows get a grip?

Yesterday I posted an article entitled "The Housing Bubble Has Popped" (http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=364&topic_id=1818083&mesg_id=1818083). But despite the obvious, the ever clueless, ever cherry NBC Today Show thinks we're still in the boom times where everyone has monies to burn.

So they parade out Peter Moore of Best Life Magazine who proceeds to claim how hot the second home market is right now, and how it's a great investment. He mentions a few "modest" vacation homes worth $600K and up - Hamptons, you name it. "That home will double in value," he claims.

Asshole! If people can't even afford their FIRST homes anymore, how the hell are they going to afford a second home??

When does the media (particularly these mindless morning shows) cross the line into utter irresponsibility? Or did some real estate company(s) pay NBC Today for what amounts to nothing more than a lying
:puffpiece:

They're leading the lemmings off the cliff. Great for their ratings, bad for the people.

[greenman3610]

1. journalists who live on the east coast

with big jobs just assume everyone has a 500k condo
and a second home.

[pooja]

2. well... if you can afford the haptons anyway, you probably can

afford a first home, second home, a mercedes, and a lexus.

[CrispyQ]

3. For them, the people who can't afford a first home

only exist as characters they report on. :eyes:

It's all about them.

[LibDemAlways]

4. Anybody who works for "Best Life" Magazine

is only interested in spinning fantasies. Since the wealthy make up such a small percentage of the population, rags like this are promoted to idiot the masses who think, "Hey Oprah and Martha rose from nothing. I could too. All I have to do is buy this magazine, and display it on my coffee table in the den." They don't understand that its real usefulness is as a paperweight for their stack of unpaid bills.

All joking aside, the disparity between the rich and everybody else in this country is a tragedy. The other day while waiting in line with my 13-year-old and her friend in LA to see a concert, we were repeatedly approached by homeless people looking for change - a sight my daughter's friend was probably shocked by since her parents own three homes, two Mercedes, go on lavish vacations, and pay for four different ice skating coaches (including one of Michelle Kwan's) for the girl who is pursuing the sport as a "hobby." Contrast that with the little boy who looked to be 8 or 9 who happened by with his mother and a shopping cart, stopping to put on a pair of rubber gloves and poke through a trash can for cans and bottles they could recycle for a few pennies. That was heartbreaking.

[5X]

5. You should circulate this story far and wide. n/t

[The Cleaner]

10. Indeed..

Have you ever seen the movie "How To Succeed In Business Without Really Trying?" It's an old sixties show. I highly recommend it! We got it from our library.

It truly is amazing the lives people lead. That friend of your daughter's sounds like she's a bit spoiled to say the least...meanwhile some are barely scraping by making minimum wage.

[lectrobyte]

6. Thanks for reminding me how much I don't miss TV most of the time.

Just seems like they are wanting folks to consume to keep this "service economy" (wtf ever that is) going.

[The Cleaner]

11. oh, you have no idea...

I watch the morning shows every morning. I don't have cable TV. NBC Today seems to be the most "newsy" morning show, at least for the first fifteen minutes or so. But I really despise it, it's all so prepackaged and fakey. And that media whore Matt Lauer, ugh. Please.

I used to like Campbell Brown but I think she's too right-leaning, and now she's become so prepackaged herself it's kinda pukey. But not nearly as bad as the former Ms. Perky.

[earth mom]

7. Don't you-everybody-get it? They are preaching to their "base".

People who CAN afford 2 expensive homes, luxury cars and have stocks up the ying yang. I mean c'mon now, the majority of people in this country don't have stocks or investments, hell they can't even save a dime! But every damn day on the stupid morning shows they talk about stocks, investments, vacations...now it's second homes! Who can afford any of it? Answer: The very few and the very rich! That's why I don't bother watching those asinine shows. They could give a damn about me or anyone like me. Not to menton all the shilling and lying they do for * & Co and the rest of the corporate criminals like themselves! :puke:

edited for clarity

[Tierra_y_Libertad]

8. Sounds like a great idea! Now, where did I leave that $600,000?

Oh, I remember! It's in the back seat of my wife's luxury '90 Tercel!

[Phoebe Loosinhouse]

9. There are a great many wealthy people that are unaffected

by the day to day economic travails of most Americans. If you want to get a little further insight into the "money to burn" crowd, see if you can sit through an episode of My Sweet Sixteen on MTV. It is beyond belief.

[The Cleaner]

12. Haven't seen MTV, but

I have seen another program (I think Big Brother) where they got a bunch of rich kids to live with each other. They were all like, "I'm the heiress to the Rolls Royce fortune," and "We have maids and cooks, we really never do much but shop and that's all."

Amazing.

I wonder if these people actually HAVE the money or if they simply put it all on credit. There's a LOT of "keeping up with the Joneses" these days.