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
Holly Weatherwax, Associate Broker
EcoBroker,Graduate of Realtors Institute,Accredited Buyers Representative,e-pro
If I can assist you with the purchase or sale of property in Northern Virginia, please visit my website: www.greatexperience.net , my blog Real Estate and Reston or email me at hollyweatherwax@mris.com. My direct number is 571-643-4902.
I believe buying or selling real estate should be a GREAT EXPERIENCE!
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
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!