There was an interesting article in the Washington Post this morning, 12/17/07. Written by Shankar Vedantam, the article titled 'Bad Ideas Can Be Contagious,'discusses the phenomenon of 'group think' and how it affects the decisions we make. What I found most compelling about the article was the assertion that this phenomenon largely contributed to the Real Estate bubble. Also discussed is the idea that those of us in the Washington D.C. metro area felt largely distanced from real estate market corrections, but now that the correction has been accepted as fact, it is believed by all.
Read the article, link below, and let me know your thoughts.
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