Without a doubt, thousands of real estate consumers across MA and millions across the nation are also counting their blessings this Thanksgiving — some grateful that they won bidding wars courtesy of the Fed’s 33% bonus, and others glad they benefitted from the “crazy housing market” this year.
Against that backdrop, comments on Boston.com blog post this morning underline the importance of psychology in real estate and happier still that this Noble-prize winning economist, Robert Shiller & CNBC dropped this verbal bomb into the water:
“We can’t trust momentum in the housing market anymore”
http://www.cnbc.com/id/101228953 (please share short link via social media)
As long as there are mixed indicators about where the housing market APPEARS to be headed, the real estate cartel will do it’s best to “SPIN” the stats to support their take on the market. Here’s a taste of what the industry is saying to itself from Inman News, a leading site for real estate insiders and techies:
What does conflicting housing data say about where real estate is?
http://bit.ly/DataConflict (please share short link via social media)
If the Real Estate Cafe could plant listening devices or real estate drones inside turkeys across America, we’d love to hear family conversations about their home buying and selling INTENTIONS for 2014. Which family members will argue, like the Realtors chief economist, that August was the last Hurrah for the next 12 to 18 months.
http://bit.ly/LastREhurrah (please share short link via social media)
Which family members will offer counter arguments, like those cited in Boston.com post, that suggest the good times are getting better for sellers and it’s still a good time to buy or sell?
Last year, Trulia found that 2 out of 3 homeowners thought 2014 would be a better time to sell than 2013. Wonder if their perceptions are changing?
Regardless, it’s NOT all psychology as prudent homebuyers know. And for those who resisted the pressure to act too quickly (as Boston.com’s blogger implies) or overpay in a bidding war, Thanksgivings over the next two to ten years may find them counting their blessings instead of wondering why market psychology didn’t deliver the return on investment they expected.
Those who listen to Shiller may have the pleasure of saying, “I told you so.” And psychologically, that may be the most gratifying thing of all:
http://bit.ly/ShillerWarning (please share short link via social media)
What are you grateful for this year? Regardless of when you’re thinking of buying or selling a home, please join our Pre-Thanksgiving FlashMob Collage Party and BYOB — Bring your own Blessings!