Roger Schlesinger

I stopped my subscription of over 30 years to The Los Angeles Times about four years ago. I look forward, with much anticipation, to buying seven copies of the last edition to give to my grandchildren so they will be able to understand what a newspaper was.

Unfortunately, they will not have a copy of a "real newspaper" to compare it to, but if they do their own research, they at least have a starting point. My forward looking also includes the complete banishment of the main stream media with their pseudo unbiased approach from anything other than cassettes. As my hero, the late great Paul Harvey would say, "stand by for news!"

This morning, as I was walking to my office from the restaurant where I had breakfast, I glanced at the headlines of The L.A.Times which said in bold print: "Real Estate Craters to 1980 Levels." The newspaper had found a zip code in Lancaster, Palmdale and Hemet where they claim prices had dropped that low. If you haven't heard of these cities, let me tell you why. Lancaster and Palmdale are two cities that are north of the Greater Los Angeles Basin, North of the San Fernando and Santa Clarita Valley, and when you get there you are smack dab in the middle of the desert. Realistically, you are about 50 to 100 miles away from anything in any direction. The main claim for these cities is they were going to build the new Los Angeles International Airport there about 30 or 40 years ago. Didn't happen.

Hemet is a retirement community full of "snow birds" who come every year to escape the ravages of the snow, primarily in the Midwest of these United States. Finding lower prices in these areas is neither newsworthy nor a great job in ferreting out a news story. What this does show is the complete lack of objectivity, creativity and business acumen that has taken a once great newspaper and turned it into light reading while waiting your turn at the dentist's office.

Roger Schlesinger

Roger Schlesinger's Mortgage Minute is heard on hundreds of radio stations and daily on the Hugh Hewitt radio show and Michael Medved shows. Roger interacts with his hosts and explores the complicated financial markets in order to enlighten his listeners and direct them along their own unique road to financial freedom.