Online real estate advertising, is growing faster than print. The trend is bleak and irreversible.

I still believe newspaper.coms can win in their local markets, however. It will take more than porting classifieds to the Web or even striking deals with local MLS boards. It will take full-featured portal-like sites with deep content.

Newspaper sites also need to start paying closer attention to FSBOs. Just like the net enables peer-created content, it also makes it easier to do things like sell your own house.