The real estate market has been a nightmare for buyers, something I’ve been vocal about for the last year since I started the journey of purchasing my own home. There is plenty of misinformation out there which is why I am constantly telling my friends about the importance of finding a real estate agent you can actually trust. Misinformation isn’t the only thing to worry about in this climatic market though. Social media has created a platform for clickbait content that sways people’s opinions on what is happening in the market right now and what is slated to happen in the future.
A perfect example of this can be found on nearly every real estate-based YouTube channel right now. People have been uploading videos discussing a potential oncoming housing market crash, with pictures of houses and fires in the background, for well over a year. In the videos, which have had titles talking about a 2020, 2021, and now just “upcoming” housing market crash, the realtors or investors speculate on current market conditions and what they mean for the future. Graham Stephan, who has over 3 million subscribers on YouTube, posted a video just like this back in December of 2020.
The issue with these videos isn’t that these people are sharing their knowledge. In fact, the ability to learn about things like this online is one of the best things about the internet in my opinion. The issue is that the titles and background images are just a way to get quick clicks and lead people to think that there is an inevitable housing market crash coming. Some of these videos can be very technical in nature and people might not actually pay attention to nuances the video is trying to convey. Instead, they believe a market crash is coming and they begin to prepare or they tell others the same. Better yet, they might not ever even click the video, but see “2021 housing market crash” and think that it’s really about to happen.
I understand why people choose to use clickbait in their content, but I think that these videos could honestly get the same number of views without sensationalizing something many people are worried about right now. I’ve watched tons of these videos in the last year, and none of them can come to a definitive answer about whether or not the market is going to crash. Instead, these videos provide a lot of valuable information for those who are in the market to be conscious about when it comes to inventory and demands. There are plenty of buyers out there who want that information and would love to view it without being scared about their choice to even be in the market in the first place. I know because I was one of them.