As countries go, America has a pretty short attention span. It is fascinated by trend after trend, and drawn to a host of high-drama, sensationalized situations – particularly reality shows that, ironically enough, are as realistic as an abstract painting.
Now, the nation’s collective attention span has turned to real estate, one area that has definitely not been free of drama, intrigue, and spectacle over the past few years. Even before the housing market went belly-up in 2006 and 2007, our airwaves were flooded with home makeover shows and other reality-based programs like “Flip That House” – shows that focused on those scrappy and shrewd entrepreneurs who found great deals, put the shoulder to the plow, and turned a piece of coal into a diamond overnight.
Just as we were amazed with the get-rich-quick look and feel of those days, we were shocked and – in a way – ghastly entertained by the monumental collapse of the housing market. Over the past few years, flipping homes has been replaced by foreclosure investing, and now shows and advertisements on television regularly feature foreclosure auctions as part of the nation’s growing fascination with all things real estate.
Some call this “property porn”, on par with the “food porn” showcased on Food Network; others term it an obsession with making money in the most popular way possible at that moment, something that is quintessentially American. No matter what label is attached, though, Americans are and continue to be fascinated by real estate, perhaps because owning a home is still a big part of The American Dream, even in this age.
Imagination plays a huge role, as well. Every time we see a home foreclosure (either on the block or on TV), we imagine two things: 1. What it would be like to lose our home; and 2. What it would take to buy that home and make money with it.
Both play into drama and intrigue, and when you couple that with money, you have a winning combination. As a result, Americans fixate on real estate like they do the rich and famous, or reality TV, or game shows, or sports, or any other social trend based on material gain and possession. Of course, some of this is perfectly harmless; it’s okay to get into foreclosure investing, for example, as a way to make money.
As long as the country as a whole keeps in mind the reality – and not the “reality” – of the situation, that real people are involved with real emotions, dreams, and situations, there is no harm done. If “reality” overcomes the very real business of home ownership and how it impacts lives, then the nation is doing itself a grave disservice.