March 23, 2008
In Real Estate, Beware the Fraudulent Seller, Too
This post from Calculated Risk dissects sloppy journalistic reporting on the housing and loan crises, and (among many insights) wonders -- in the WaPo story My House. My Dream. It Was An Illusion. -- why there's little investigation of the ethics of predatory selling as well. (HatTip to discourse.net.) The author encourages investigative reporters to "get ahead of the curve" on unethical selling, not just post mortems of lender and sales scams. "Nobody wants to have to report on 'foreclosure avoidance scams' or 'subject to' ripoffs after the fact, like we're only now reporting on predatory lending and predatory RE sales practices after the fact."
It is the kind of close examination of business reporting that Jeff, and hopefully LPB readers, will appreciate. The blog also has hundreds of good comments to the post. [Alan Childress]
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There is a big difference between a good trader and someone with an intention to pull a legal fraud. I'd be concerned about both categories. But this is more common - a good trader managing to sell unimformed potential client overprised property in perfect legal conditions, yet you cannot accuse him with the legal fraud.
Posted by: Toronto realtor | Mar 24, 2008 6:05:17 AM