News Flash: Facebook's real-world implications

NEWS FLASH

Facebook's real-world implications By Matt Carter SAN FRANCISCO -- The financial crisis and the evolution of the Internet away from a culture of "search and surf" to a "friend era" driven by social networking sites have produced profound changes in consumer attitudes that must be understood in order to thrive during the recovery, consumer behavior experts told attendees at a homebuilding industry conference this week. Consumers feel burned by the advice they received from their "trusted advisers" in the lead-up to the financial crisis, including real estate professionals, said J. Walker Smith, executive vice chairman of market research and consulting firm The Futures Co. "The outrage simmering beneath the surface is not to be underestimated," Smith said. People feel they were "cheated" and "conned" by bankers, mortgage lenders, and politicians, among others, and that those "betrayals" have gone unpunished, he said. Read full story here.

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