Group Think and Real Estate

 

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.

http://www.washingtonpost.com/wp-dyn/content/article/2007/12/16/AR2007121601472.html

 

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Comment balloon 4 commentsHolly Weatherwax • December 17 2007 08:07AM

Comments

The word lemmings comes to mind. Yes we can make our own messes. Last summer here the governer got on the airwaves and told every body not to worry about the pipe break for gas. There was plenty. So Naturally everybody went to the pumps and sucked the town dry  Group  Think at its best

 

Posted by Charlie Ragonesi, Homes - Big Canoe, Jasper, North Georgia Pros (AllMountainRealty.com) almost 11 years ago

Surrounding yourself with people who can see the opportunities and the positive sure feels better than the alternative. Most people who make a difference are the visionaries who can see beyond the naysayers.

Thanks for the post!

Posted by Joeann Fossland, Master Certified Coach to Motivated Agents (Advantage Solutions Group) almost 11 years ago
As I read your post, I thought of all of the bad press that Realtors are getting right now for positive thinking--I agree with you!  How much good does it do any of us to walk around being negative???!!!
Posted by Holly Weatherwax, A Great Real Estate Experience ( Associate Broker, Momentum Realty) almost 11 years ago
Hello Holly! I positively love positive people. I'm bookmarking this for a later read. It's way past my bedtime but it's good to meet you. Happy New Year! Deb
Posted by Deb Brooks (Brooks Prime Properties Wichita Falls Texas) almost 11 years ago

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