The Emotional Undercurrent of Buying and Selling
Inside the real estate bubble of yore, buyers could act as impulsively as they wanted, reports The New York Times: if buyers changed their mind, they could always sell at a profit. But in today’s market, “buying a home is more psychologically demanding, fraught with conflict and confusion.” For buyers, especially those without much capital…
Inside the real estate bubble of yore, buyers could act as impulsively as they wanted, reports The New York Times: if buyers changed their mind, they could always sell at a profit. But in today’s market, “buying a home is more psychologically demanding, fraught with conflict and confusion.” For buyers, especially those without much capital to burn, deciding on a home can be extremely stressful, since it involves a long-term commitment. And for sellers, some of them refuse to sell now, even if it’s a good idea for them, because they don’t want to feel regret or shame at having bought at the height of the bubble. Kathleen Gurney, the chief executive of the Financial Psychology Corporation in Miami, told the Times, People will do anything to not regret how they feel,” including extending their losses so as not to feel stupid. The article also explores the differences in the market and people’s perception of the market. Even if this is a good time for some to buy or some to sell, we are pack animals, and when the pack is afraid of dealing in real estate, so is the individual. As Dr. Gurney said, potential buyers and sellers would rather “be a part of a crowd, even a crowd of losers, than stand out.
In the Grip of Indecision [NY Times]
Photo by LunaDiRimmel
“People will do anything to not regret how they feel,” including extending their losses so as not to feel stupid.
= Dibs in a nutshell. Peak ghetto speculator. Can’t be any more of a poster boy for stupidity. Then theres the handful of people on here simply being considerably “worth” less and less every day. Same ‘ol s*hit with every bubble. The virtual wealth thing…
I hope the fiancée (Ms.)is reading Brownstoner today.
northsloperenter at 11:19 AM, has a real point — that is echoed by mopar at 5:24 PM. I can see that she has more emotional considerations to make than just the property. Women, nevertheless, need to protect themselves. She could stand to lose much more than a few dollars (as in possibly everything).
Newsouthsloper, are you a bitter former investor in the Sun?
“The fiance is definitely an ass. She’s going to sell her place at a loss, move into his rental, then get dumped and thrown out on the street.”
You are right. I was giving the guy the benefit of the doubt, thinking there must be some very important reason he is forced to stay in Long Island and rent, but I can’t think of one.
“This type of nonsensical conclusion erodes the integrity the NY Times and its reportage.”
The integrity of the NY Times and it reportage have been severely eroded if not completely evaporated over the past several years. That is why they are falling into bankruptcy and largely disregarded as the left wing rag paper of choice. There is very little, if any, honest reporting coming out of that paper these days.
what happened to the NY Times??
“Nearly two-thirds of New Yorkers believe that now is a good time to buy, according to a recent study of 2,000 potential buyers who responded to weekly polls conducted by the Corcoran Group on its Web site.”
that’s like saying “2/3 of New Yorkers think it’s a great time to commit suicide, based on a survey of 2000 suicidal New Yorkers conducted by makers of anti-depressant medication”. hmm, self-selecting population surveyed by financially interested market participant…
i am not a market bear by any means, but this type of nonsensical conclusion erodes the integrity the NY Times and its reportage.
Trop Drole….really funny and true as well
“I deny that people make 350K a year since I will never make that much in my entire lifetime. I cannot even imagine that people actually got an education when they were younger instead of goofing off like I did.
Brooklyn has passed me by and I can’t handle it”.
I was posting on a NY Times blog until I got kicked off. My posts were deleted since I failed to give a real e-mail address. I am as phoney.
I disappreared when the markets didn’t prove my point and I take one article from the Times to reappear like I never left.
I deny that people make 350K a year since I will never make that much in my entire lifetime. I cannot even imagine that people actually got an education when they were younger instead of goofing off like I did.
Brooklyn has passed me by and I can’t handle it.
I call people names since I have no comeback.
If I am unemployed, does that mean I work from home? Do you think my mama will let me take a tax deduction on her house now?
If teh economy improves, will I still be moving the goal posts?
Love me!
“The only ‘income’ from someone masking 350 k is Drugs or Prostitution! The ‘Day Trader’ Thang is dead!”
LOL. 39%? That’s tax free!
***Bid half off peak comps***