Fake it until you make it. No truer words have ever been uttered especially when it comes to Hollywood and the make believe of reality TV. Just because you put the word ‘reality’ in front of TV doesn’t make it so. Yet people flock to housing shows in mass because it feeds into their world view that real estate is always a winning bet. Whether the show is about a couple looking to buy their first home or a show where prospective investors take a chance at rehabbing a former meth home and turning it into a puppy daycare, these shows put out some unrealistic scenarios especially for those that actually buy and invest in the real estate market. Yet that is the rub. Most people never purchase investment property. Most that do own real estate own it as their place of residence. And that is why these shows do so well because they highlight an alternate reality that only works out in scripted reality.
Ridiculous budgets and emotional buying
I must admit to my chagrin I enjoy the episodes where they have first time buyers and how they analyze the situation:
‘Currently, we live in a 700 square foot studio apartment but with a baby on the way, we need to upgrade to a 2,500 square foot home so we can have space for our 6 pound baby. Oh, and a sauna and a walk-in closet would be nice.’
Then you get the agent slash personality TV star asking about the budget for the couple:
‘We can comfortably afford $400,000. If it is a dream place we can stretch to $425,000′
This post was published at Doctor Housing Bubble on Jan 16, 2017.
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