Homeownership represents a sign of success and stability in our society. It provides most people with emotional rewards that go beyond bragging rights at work. Billions of dollars in advertising are spent encouraging us to consume, and housing is the largest consumption we can make.
A person has to have a tremendous sense of self to voluntarily put those social pressures aside and sit on the sidelines while waiting for the market to correct. It takes a certain perverse nature to go out of your way to look for the data and viewpoints that contradict the messages being thrown at you from the advertisers, your friends, family and peers.
Most people don’t yet have that sense of urgency – a lot of the sellers are selling not because they think it’s a good choice but because they are compelled to sell. They feel shamed to have “failed” and do not see this as the better alternative.
The people here at Piggington’s are not normal people (sorry guys). We shouldn’t lose sight of that fact and think that everyone is seeing the same picture we’re seeing. For some people, the NAR line always applies: