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Well...gee...I can't disagree that HGTV played a significant role in helping encourage the stupid, the gullible, and the greedy into helping bring the economy down. But, blaming HGTV is just (yet) another example of what has become an American past-time. That is, ignore all responsibility, ignore accountability, and blame someone or anything when you screw up. I live in a house I can afford, and it never occurred to me that I was "an idiot and a loser" for doing so. And if I gain a pound or two during the holidays, it never occurs to me to blame the grocery store or Jesus.
What HGTV did for me was show that something somewhere just wasn't adding up.
In what way does the Food Network support over eating though? It doesn't really.... In a similar fashion its one big advertisement and they've created a large class of products around their brand. But, at least they aren't trying to get people to commit financial suicide (or nutritional suicide), rather purchase overpriced cookware from China.
I've been flipping houses for over 30 years....before they even called it that.
It's a concept that will always work....I buy run down but structurally sound SFHs, fix them up mostly myself, and resell them for a modest profit. I don't watch much TV, but if that's what HGTV was depicting, what's wrong with that?
I'm having an absolute ball with all these foreclosures.
I used to watch TLC's flip this house and property ladder. Whenever they showed the California flippers and the profit that they made. They never told the story about how much in taxes had to be paid or how much the realtor took in comission so the money they showed the folks making on T. V. isn't really accurate. I know that in CA if you own a property less than two years the state makes you pay a hefty income tax. That was never mentioned. So much was glossed over.
I used to watch TLC's flip this house and property ladder. Whenever they showed the California flippers and the profit that they made. They never told the story about how much in taxes had to be paid or how much the realtor took in comission so the money they showed the folks making on T. V. isn't really accurate. I know that in CA if you own a property less than two years the state makes you pay a hefty income tax. That was never mentioned. So much was glossed over.
The best property related show on TLC, in my opinion, is Property Ladder. They at least show the aftermath and the lady who hosts it has her head on straight and usually gives good advice that is ignored by the flipper.
So now we know what happens when too many people who have too few assets buy too much house with the help of too many risky mortgage products and too little oversight. And while there's plenty of blame to go around -- unethical mortgage brokers, greedy bankers and irresponsible homeowners -- one culprit continues to get off scot-free: HGTV.
That's right. The cable network HGTV is the real villain of the economic meltdown.
In an odd way...you are exactly correct. I bet half of America upgraded their kitchen counters to granite and had to buy stainless steel appliances just because of HGTV. I realize the network is designed to sell products, but the longer you watch it....the longer you will be dissatisfied with everything in your own home.
When home owners are foolish enough to think putting in new bathroom appliances just added $50,000 to their home....something is bound to go terribly wrong down the road with their expectations. To make it worse, they just refinanced the little bit of equity they finally built up in their home.
It is a crazy cycle that so many people seemed to have fallen for and now reality has hit the fan.
HGTV created a feedback loop. Maybe people in this forum are independent thinkers, but most Americans-- sadly-- aren't. Seeing something on tv, especially if it's presented as a reality show, normalizes it. It gives the perception that "everyone" is doing it. And yes, the sheeple fell for it.
Did HGTV cause it? No. Contributing factor? Yes.
I never watched HGTV. But I'd watch it now if someone did a follow-up show that re-introduced viewers to all the same people-- now underwater, trapped, foreclosed on, divorced, etc., etc., etc.
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