ECONOMISTS and other humans don’t always see eye to eye

by Russell Shaw

Mega-Producing Realtor

ECONOMISTS and other humans don’t always see eye to eye. “Economists tend to think people are crazy because they won’t sell their houses for less than they paid for them — and people think economists are crazy for thinking things exactly like that,” said Professor Christopher Mayer.

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5 Comments

Greg Swann says:

Further down in the same article:

What is to be done? Well, if you are holding out for an above-market price to recoup your losses, perhaps you would do well to hear the advice that Professor Mayer gives his own family members.

“If you want to sell your house then you list it at the market price and you sell it,” he said. “If you don’t really want to sell then don’t put it on the market. But don’t say you want to sell and then set the price so high that you spend the year cleaning up every morning, having people walk through your living room and look in your medicine cabinets and reject you. That’s just painful — and expensive.”

Excellent advice.

October 6, 2007 — 8:26 am
Dan Green says:

An economist is a person that predicts the future using data from the past. It’s no wonder they’re wrong as often as they’re right.

October 6, 2007 — 12:30 pm
Richard says:

Buy high, Sell Low! What are we selling stocks

October 9, 2007 — 11:20 am
David Winans says:

The issue with the government getting involved in the mortgage crisis in America reminds me of a quote by economist Milton Friedman,

“The government solution to a problem is usually as bad as the problem.”

January 9, 2008 — 3:07 pm
Kenney says:

Depends on your strategy, risk, and investment portfolio.

I prefer option low…sell higher. It’s cash now. But if you’re in it for the long run (building wealth) and in an area that has proven to appreciate, then hold, as long as you’re not incurring a lot of holding cost (offset with renting/leasing)

Note: Funny comment above by Richard…lol

May 13, 2008 — 12:47 pm