Why do journalists all hype up prices for things?

Donald Trump · 06-12-2022 5:49pm #1

I saw this article in the paper about "strong prices" achieved for land. The headline refers to a plot that made 23,500k/ac

https://www.independent.ie/business/farming/farm-property/leinster-farm-sales/30ac-parcel-on-meath-coast-makes-23500ac-42196907.html

Not a bad price of course, but the same journalist was predicting a price of 30k/ac a few weeks back for the same holding

https://www.independent.ie/business/farming/farm-property/leinster-farm-sales/handy-holding-near-meath-coast-could-fetch-30000ac-42106984.html

Are they buddies with the estate agents or something? Are they doing the same with all the articles about lads getting 500 and 600 per acre for grazing etc?

Reminds me of the ridiculous articles every year, such that that lads are paying nearly 100 quid per bale for straw on the flat etc etc (ok a bit of an exaggeration but you get the point)

Donald Trump · 06-12-2022 5:56pm

The point being that if you had predicted something might make X, would you come along and print that it achieved a strong price if it made more than 20% less than that?

Say my name · 06-12-2022 6:50pm

Unofficially there seems to be some agreements between auctioneers and funding for papers.

Journalists under saved phone numbers.

893bet · 06-12-2022 7:21pm

Headlines are “for clicks” purely. Journalism is reduced to that online at least and almost also in print.

Donald Trump · 06-12-2022 7:23pm

https://www.boards.ie/discussion/comment/119964717#Comment_119964717

Would be a much more "clickbait" headline to have "Worries as land price slumps to 75% of pre-auction expectations" for the later article

cap.in.hand. · 06-12-2022 7:26pm

https://www.boards.ie/discussion/2058274802/why-do-journalists-all-hype-up-prices-for-things

The landowner selling the land no doubt is delighted with the hyping up of their great land through the media

Donald Trump · 06-12-2022 7:29pm

https://www.boards.ie/discussion/comment/119964728#Comment_119964728

Well the point is that the journalist is still hyping it up after the fact. I'm not saying it's not a good price. But it's only just a bit more than 75% of what they had "predicted". So I think it's a bit much to be then turning around and giving the impression it was a great result.

Although, to be honest, in the specific example, maybe there were some potential buyers who would have gone over the 23.5k but were put off by the 30k projections................

cap.in.hand. · 06-12-2022 7:40pm

https://www.boards.ie/discussion/comment/119964734#Comment_119964734

I suppose you could say the buyer got a bargain so ...it was worth a lot more than the price paid.

kk.man · 06-12-2022 9:03pm

What's the difference between a property journalist and a livestock mart manager. That's just business. The only thing is the journalist can't inflate the public auction price.

If you were to believe the mart mangers week after week the price of cattle would be ten times inflation and factory beef bullocks must be the equivalent of ten Euro a kilo over the space of the last 5 years of reporting.

Donald Trump · 07-12-2022 12:35am

https://www.boards.ie/discussion/comment/119965111#Comment_119965111

There is a difference between a journalist, whose wages shouldn't depend on the money made from selling property, and a mart manager - whose employer profits depend directly on the price achieved

I know you had the old thing about the newspapers making a fortune from property pullouts back in the mid-2000's. A journalist shouldn't be writing puff pieces for them though.

If the mart manager called into your yard, saw a beast you had for sale and said "Good trade at the minute. If you brought that lad in next week I'd expect you'd get 2000 for him". Then if you brought him and he only made 1550, you'd hardly think too much of him if he then tried to day "jaysus, you got a fair strong price, the market is definitely flying"

kk.man · 07-12-2022 5:43pm

https://www.boards.ie/discussion/comment/119965915#Comment_119965915

Mart managers are classic at price inflation....i was at a mart last year where there was a poor trade for stock. The managers report was trade was great between x and y kilos which was far off the mark. But imo it was a brutal trade overall. I notice that some marts which feature on the journal would state something like bullocks to 2,500e and the same page would see pictures of a good trade and possible four pictures but the highest price bullock picture might be 2,350e ...says it all

Donald Trump · 07-12-2022 5:50pm

https://www.boards.ie/discussion/comment/119968111#Comment_119968111

That makes sense for the Mart manger. But not for a journalist who is supposed to be writing facts. If the SCSI publish their annual land report then you expect them to be putting forward a positive picture and maybe hyping up things. You take their predictions with a pinch of salt that you might not take compared to say, if the ESRI published an independent report.

kk.man · 07-12-2022 7:33pm

https://www.boards.ie/discussion/comment/119968140#Comment_119968140

I'd have faith to a certain extent in the ERSI. Auctions can't hide the price unless you see 'the land didn't sell but was sold for a substantially higher price afterwards'. That's the issue we don't know the afterwards price not the private treaty price. I wouldn't trust many auctioneers tbh.

wrangler · 08-12-2022 8:39am

https://www.boards.ie/discussion/comment/119968522#Comment_119968522

I see land made €570/acre for leasing in Laois, it's difficult not to be optimistic about the value of land with that happening.

570/acre without entitlements or sheds

DBK1 · 08-12-2022 9:54am

https://www.boards.ie/discussion/comment/119969802#Comment_119969802

€500 - €600 seems to be the run of it around the midlands now alright. And that’s with entitlements going back to the land owner as well.

blue5000 · 08-12-2022 10:01am

Last bit sold around here made 18k an acre, dairy farmer bought it, no road frontage or buildings on it. They’ll soon be buying land off property developers.

kevthegaff · 08-12-2022 10:12am

https://www.boards.ie/discussion/comment/119969964#Comment_119969964

Dairy farmer/ builder, most guys buying the big lots have more than one income

Pinsnbushings · 08-12-2022 10:14am

What was land renting for in those areas 2 years ago.? Is it well established dairy farmers or newish entrants that think dairy is a golden ticket paying based on a couple of great years? Seen land here go for big money lately to dairy lads, but these would be old money too with other business interests, but lots of farmers only see the fact they are dairy..

Having said that after the last 2 years these well established dairy lads if they want will put land out of the reach of the rest of us. The only question I have now as I don't think I can compete to expand my little dairy farm is do I cash in the chips, sell the outfarm, lease the rest and both myself and the brother live mortgage free with decent off farm jobs, and the parents have the land lease for a nice retirement

Donald Trump · 09-12-2022 8:58pm

https://www.boards.ie/discussion/comment/119969802#Comment_119969802

Still a crazy price but the context is a 10 year lease. It's probably a fixed price for the entire duration. A tillage man paid it too.....conditions only allow crops that can be cut with a combine I think

Pinsnbushings · 09-12-2022 9:21pm

Ye saw that it was a tillage farmer, it seems crazy but sure they have had a couple of good years. It's still potentially nearly 2 ton of grain gone on rent..but these lads seem to know what they are at

Why do journalists all hype up prices for things?

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