It’s Not Your Fault
Posted September 6th, 2010 in Real Estate, Real Estate Stuff | 
Ever Wonder Why?
Have you ever wondered why people don’t sell their house when they know the market is in decline and they are opening the door to financial loss. It’s a divergent topic and one that is interesting to consider.
Take comfort that research suggests that it may not be your fault!
TED
If you haven’t visited this site you may just want to start. It’s a great place to see and hear some people who are thinking outside of the box.
From TED’s Bio: – “Laurie Santos runs the Comparative Cognition Laboratory (CapLab) at Yale, where she and collaborators across departments (from psychology to primatology to neurobiology) explore the evolutionary origins of the human mind by studying lemurs, capuchin monkeys and other primates. The twist: Santos looks not only for positive human like traits, like tool-using and altruism, but irrational ones, like biased decision making.”
Don’t Want to Sell?
This is a great talk, well… I thought it was. It is fairly lengthy but if you ever wondered why you do certain things it deserves your time to listen.
What she has to say:
Hard Wired
I suspect that Realtors® are hard wired in a similar fashion which leads me to this.
“I am a Realtor® – want to sell your home? I know stuff that can help you do that!”
HatTip Fish
Logo Courtesy of TED
So is the Vancouver real estate market in decline?
If so, should all homeowners sell?
Aversion to perceived loss?
@jim
are we moving into your house. Whats the food like and do you provide the beer?
Exactly. When you have been a homeowner for more than a few years, selling or buying is a multi-month or even multi year consideration. And more about stage of life and life style, with only a passing acknowledgemnet to market gyrations.
Looking at daily or even monthly stats to time the market is nuts. Looking at it over the last 3 years and trying to pick a trend was also nuts.
Unless you are infinitely smarter than say,,, Warren Buffet or Jim Pattison.