Real Estate
If you've ever house-hunted, you've probably got a sense that real
estate purchases don't represent consumers at their most rational. Did
you like a house or apartment more, or less, depending on whether it was
sunny the day you saw it? Chances are, you did.
Buying a house isn't the same as buying a stock, an air conditioner or
even a car. It's not just a product with pluses and minuses—good school
system versus small kitchen, new roof versus longer commute. A house
represents the kind of life you want to live. And given its cost, a
house and the value it gains or loses represent in a very concrete way
the life you will be
able
to live. Thus, it's both unsurprising and disturbing to realize our
judgment about real estate is susceptible to many of the foolish forces
that affect so many other consumer decisions—and in some ways, it may
even be more affected. .
Real Estate
Real Estate
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