Perhaps the average New York Times reader makes $250,000 a year, but the average American family? Not quite.
And yet the Times, and its media colleagues, continue to feature sob stories from rich families in stories supposed to illustrate the pain the housing “crisis” is causing for middle- and lower-income families.
“Not since the Depression has a larger share of Americans owed more on their homes than they are worth,” New York Times reporters Edmund Andrews and Louis Uchitelle wrote in a February 22 article. “With the collapse of the housing boom, nearly 8.8 million homeowners, or 10.3 percent of the total, are underwater.”
In an effort to personalize the “drowning” feeling, the reporters profiled three far-from-average homeowners, including Stuart Breakstone, who recently had to cover the $65,000 he still owed on a mortgage when he sold his house. It's unfortunate, but at least Breakstones had the $65,000.
Should people, especially lower income borrowers who are struggling, feel badly for the Breakstone family?According to the Times, Breakstone is a lawyer, and his wife Lori is chief of customs agents at Memphis International Airport. Together the couple earns more than $250,000 a year. That's more than five times the U.S. median household income.
Collie Tuttle and Jane and Kevin Naus presented equally “tragic,“ yet equally unwavering scenarios. Yet another in the media’s long line of exaggerations meant to blame business and naysay the economy.
NYT’s Warped Sense of 'Average'
By Nathan Burchfiel | February 22, 2008 - 19:53 ET
Editor at Large
Comments Policy
Very common
February 22, 2008 - 20:04 ET by ThisnThatThis is a very common approach for the NYT and Boston Globe. The Globe profiled an out-of-work person some time ago to show how the unemployment lines were growing. The Globe hired a consultant to help this person, and he found several good-paying jobs. But, this person refused them all -- he was holding out for his $200,000 a year job because he wanted a raise from his previous employment. This went on for months -- and we were all supposed to feel sorry for the poor bloke.
I think it's just a case of how out-of-touch all these people are. Only John Kerry can relate to those stories.
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If you can read this, thank a teacher. If it is in English, thank a Soldier. - My barber
When in Iran play to Iranians
February 22, 2008 - 20:11 ET by Lame CherryMr. Burchfiel, this is the best post on this site in a month. Congratulations on the discovery of this as what you have found shows that the New York Times IS pandering to it's known readership in order to gain revenue.
That is not propaganda, nor news, but self serving commercial interest.
You sir, have just exposed the Times is slanting stories and coverage for a caste system of rich people.
I doubt that anyone is going to understand what you did in exposing this, but this is akin to plagarism or someone like Dan Rather having documents forged for a story.
You caught the "paper of record" pandering to the people who pay their bills. This is outstanding.
agtG
*HIC IACET ARTORIVS REX QVONDAM REXQVE FVTVRVS
A matter of conscience
February 22, 2008 - 20:30 ET by needleIsn’t remarkable! Here is the NTY trying to appeal to our consciences, and in the process they reveal that they themselves are devoid of conscience.
My first reaction reading Burchfiel's posting was: “What? Can’t these high-paid jerks come up with more compelling anecdotal stuff than this?!” But then you LC solved the puzzle.
Impunitas semper ad deteriora invitat.
Making and Having
February 22, 2008 - 20:25 ET by Jerry MackJust because a person has the ability to make money does not mean that they know how to manage it.
A fool and his money are soon parted.
Sorry,
February 22, 2008 - 20:33 ET by ScrapironBut I can't feel sorry for a couple making 'over' $250,000 per year and can't make it. I suspect two fools met and marriage resulted.
Well, they can feel free
February 22, 2008 - 22:17 ET by motherbeltWell, they can feel free to use my tax dollars (hey, raise my taxes if you need to!) to bail out families earning $250,000 a year, because even at that income they bought a home they really couldn't afford!!
Reminds me of the movie "Clueless" when Cher is collecting stuff for families that lost everything in a natural disaster. The father asks her why she has skis and tennis rackets in the pile and she says Daddy they lost everything!! I'm assuming that includes sporting equipment!
What did the Breakstones have to give up to afford that $65,000?
I can see this really is a crisis!! Oh, the humanity!!
So to propagandize on the
February 22, 2008 - 21:26 ET by GregESo to propagandize on the housing "crisis," the NYT brings out the story of a family with an annual income of $250,000 and says to feel sorry for them and their situation....
....yet the same NYT will treat the exact same family making $250,000 as one whose tax cut should be repealed, because, well......they're rich.
As always with the NYT, it just depends which agenda item is in play. Logic and sense has no place.
They're not only "rich,"
February 22, 2008 - 21:40 ET by motherbeltThey're not only "rich," GregE, they are among "the wealthiest Americans." And in that case, it doesn't matter if they both work 60 hours a week; at that salary level they are not a "working family."
But fee sorry for them anyway...they were probably taken in by some "unscrupulous lender."
Here's a quote
February 23, 2008 - 10:27 ET by DontFeedTheTrollsHere's a quote from this 'story':
But millions of others are trapped in their homes. They have jobs, make their mortgage payments on time, but cannot raise enough cash to cover the shortfall.
Now, correct me if I'm wrong, isn't the idea of buying a home to remain 'trapped' there and make your payments for 30 years (or so) with the end result (no matter what you paid or what the home is 'worth') that you own the home? What am I missing?
I guess I'm missing the agenda the NYT has.
D
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