All three broadcast network evening news shows have been derelict when it comes to reporting good economic news during the Trump era. That continued with good news about sale of new houses.
Sales of newly built homes jumped “55% annually in June,” CNBC reported July 13 in a story headlined, “Homebuilders just saw the strongest June sales since the last housing boom, as pandemic pushes more buyers to the suburbs.” This was “the largest annual gain since homebuilding began again following the epic housing crash a decade ago.” Citing a new survey by John Burns Real Estate Consulting, CNBC noted that “[i]t is also the highest pace of sales growth since the height of the unprecedented housing boom in 2005.”
Like a mosquito’s aversion to potent bug repellant, this news received no coverage from the Big Three evening news shows. ABC's World News Tonight with David Muir, the CBS Evening News with Norah O’Donnell, and NBC Nightly News with Lester Holt all censored the story.
CBS Evening News, in particular, did find the time last night to boast how states “inundated with infections” were moving over to former Vice President Joe Biden’s camp in the 2020 presidential election.
CNBC began its lede paragraph with very encouraging news for the economy. CNBC Real Estate Correspondent Diana Olick wrote:
A sharp decline in the supply of existing homes for sale, increasing consumer preference for brand-new, high-tech homes with all the amenities for working and schooling, as well as an accelerating flight to the suburbs and exurbs made for remarkable housing demand in June.
Clearly, it wasn’t “remarkable” enough for the network evening news shows to do their jobs and cover this news properly.
Sales were “strongest in the Northeast, with an 86% annual jump, and in Florida, where sales popped 84%,” CNBC said. The new home sales allowed “builders to raise prices.” CNBC also noted that “[a]bout 57% of those surveyed said they had bumped prices higher.”
The good news continued: “Builders can raise prices because they are seeing a new buyer today, more serious and more impatient than ever. Buyer traffic is converting into sales at a record rate,” according to CNBC. “In addition, consumers are largely choosing homes already built, even in the luxury segment.”
It is beyond disgusting that the Big Three continue censor good news just because it doesn’t fit their mission to ding President Donald Trump at every turn.
When news broke that the May jobs numbers were revised upward by a whopping 5.825 million, all three evening news shows censored that story. They also censored when U.S. stocks “wrapped up their best quarter in more than 20 years.”
The Big Three even recently censored news on the Nasdaq Composite stock index’s “historic” close above the 10,000 mark “for the first time” June 10. The same evening news shows also ignored when the Nasdaq topped 10,000 for the first time June 9.
MRC News Analyst Nicholas Fondacaro contributed to this report.