Now that some first signs of a slowing of the housing bubble are appearing on the horizon - have a look at the recent discounts on multi-million dollar mansions on websites like Luxist - the themes of these shows are going to change as well.
From property to debt management.
A new Reality TV show is scouting for young Americans who are in debt up to their eyeballs. Today I received the following email from brokefolk.com.
Attention high school students, college students, recent graduates, newlyweds, and Young America: If your life is a financial mess, a new reality show wants to hear about it...The clock starts ticking when the show will become a widespread reality in real life. Consumer debt figures, the negative savings rate and the soon-to-deflate housing bubble will carry the drama into several million American living rooms. And it won't go away by turning off the TV.
The show is now conducting a nationwide search for unusual, extreme, and entertaining stories about real money messes from funny, outgoing and interesting people who are starting their financial life off on the wrong foot...
Offering a financial makeover to contestants with stories unusual or dramatic enough to capture America's hearts, the show is currently accepting email stories nationwide from America's young people. In addition to appearing on the show, winners can receive financial assistance to help them solve their money problems.
"We want to hear the emotions and frustrations behind your situation," speaker Peter Bielagus said. "Maybe you are 22, and you have $23,000 of credit card debt. How did you get there? Did you feel you had to have certain items to fit in with a certain crowd?"
25 And Bankrupt - This Show Wants You
Bielagus says the show wants personal financial tales from people who range from a college student longing to buy their first real estate investment property, to a soldier just home from the war who had to put on life hold for 24 months, to someone who had to declare personal bankruptcy at 25 and is now struggling to get back on their feet.
"Maybe you and your spouse have committed to a dream wedding, but are out of money. Perhaps you are so far in debt that you use credit cards to pay your credit card debts," said Bielagus. "We want to hear it and we want to help."
Applicants are encouraged to send an email describing your situation and why you think you would be a good candidate for the show. "Remember," says Bielagus, "we want more than numbers, we want to hear your story: what are the emotions, frustrations and pressure that got you where you are?"