The Housing Doomer Industrial Complex

The Broke Agent breaks down how housing doomers profit from fear and why real estate agents should push back with local data and facts.
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Doomer content is a quick recipe for social media virality and popularity.

Whether it’s the economy, politics, or the entire “system” supposedly collapsing, there’s a massive online audience for people who constantly predict that everything is getting worse, some sort of disaster is coming, and there’s absolutely nothing you or anyone can do about it.

One of the most popular forms right now is housing doomerism.

Obviously, housing affordability is a major issue right now and a hot-button topic for millions of Americans.

This, coupled with people’s dark online desire for everything to implode because it would make them feel better about themselves, has created an entire industry of housing doomers who gleefully tweet, post, and record videos with crazy thumbnails, giant red arrows, and outlandish headlines predicting the worst housing crash ever.

Their usual go-to lines are:

“You have no idea what’s coming.”

“Just wait until you see what happens next.”

“The housing market is about to implode.”

“Worse than 2008.”

Vague, meaningless statements and predictions that generate retweets, comments, and clicks but never actually have to be right.

Another favorite move of theirs is posting random screenshots of price reductions with absolutely no context.

A house in Austin just dropped its asking price!? THE CRASH IS HERE. 

My Recent Run-In With a Housing Doomer

One of the more notorious doomers is a delightful mutant by the name of “Vlad the Inflator,” who ricochets back and forth between the housing doomerism and the Jews (the two topics sometimes go hand in hand because of course they do).

He launched one of his usual masterpieces earlier this week.

I decided to respond and it got a lot of traction.

BA-response

“Are you ready for the fun to really get started” is another one of those vapid, fear-inducing lines that means nothing.

Then “Vlad” and his followers found the true cause of this exchange.

laughing-because-Jewish-comments
One of them pulled a tweet of mine from 2016 that said I went to Israel and discovered I was Jewish.

antisemitic-Vlad-comment
Vlad was giddy about this new information, which apparently made celebrating my impending financial ruin even more fun! In fact, he suggested I’d be happier living in Israel!

red-pilled-Kyle-comment

Then “red pilled” Kyle said my “usury” system, aka Jewish banking, is about to die.

Another guy said I was literally in the IDF. Will spare you the screenshots.

Now I know this small exchange is not indicative of housing doomerism as a whole, but my main point is that this is their playbook.

Say outlandish thing, get engagement, line the pocket, attack. Sprinkle a little antisemitism on top of it, and you have the perfect recipe for virality.

He was right back at it, btw.

Stoke fear!

The Housing Doomer Never Has to Be Right

Here’s the thing about these people.

The doomer never has to be right.

The doomer has no accountability to anyone and can switch from housing to the economy, to politics, to Israel, to Epstein, back to Israel or whatever conspiratorial dribble happens to be trending that week.

If the housing market doesn’t crash… it just hasn’t happened yet, or they move the goalposts.

If prices go up, the crash is just getting closer and will be bigger. If prices go down, they were right all along.

And there’s nothing you can do about anything. You are a victim of the system. It’s rigged. You will never buy a house, and you will never own anything.

It’s a pretty incredible business model when you think about it. Maybe if I wasn’t Jewish I would be doing it myself!

There’s no incentive to provide context, acknowledge positive data, debate, or admit when a prediction was wrong.

Fear is the product.

Why Real Estate Agents Should Care

Personal attacks aside, there’s a reason I think these people need to be called out.

Their content does have a negative effect on actual buyers and sellers.

People are already anxious about housing affordability, mortgage rates, and the economy and then they are being algorithm-pilled to believe they are screwed regardless of what they do. This comment on my recent IG post explains this perfectly.

IG-comment

Real estate agents are on the front lines of this because they’re the ones having conversations with buyers and sellers who consume this content.

A buyer sees 15 posts about an impending housing crash and starts second-guessing their decision to purchase a home.

A seller sees a viral video about home prices collapsing, panics about their listing, and makes a decision that ends up hurting them financially.

These posts have real consequences, and we can and should do a better job of debunking them, calling them out, comparing national headlines to local market data, and educating our clients with facts.

One person who consistently calls out housing doomers is Logan Mohtashami from HousingWire.

He debates doomers and challenges their predictions. I encourage you to watch this:

youtube placeholder image

 

I think more people in the real estate industry should do the same.

They’re getting oxygen regardless, so may as well use it to educate consumers.

I’m not suggesting agents spend their entire day arguing with anonymous accounts on X like I did.

But when these narratives start influencing consumers and the broader conversation around housing, it’s worth pushing back.

Separate legitimate market concerns from people who have made an entire career out of predicting the apocalypse.

That’s my take on the housing doomer industrial complex. 

Just boarded a flight to Tel Aviv btw. See you guys next week.

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About the Author

Eric Simon is the founder of The Broke Agent and co-founding Chief of Content of BAM. You can watch him weekly as a co-host of Over Ask Podcast and The Walk Thru. Eric also speaks at industry events across the nation and can hit his pitching wedge 190 yards.

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