I think their (at least many of them) job itself is a giant groupthink based on unwarranted optimism, manipulation of people's emotion using home, family, stability, financial upward mobility based on equity buildup/leverage, tax advantage etc., factors. That blinds them into not seeing the obvious financial crisis that an outsider detached from the market can see. That is why you see many Realtors themselves caught in the vortex of flipping. They were not just preaching irrational exuberance, but actively practicing it. After we had our difficulties selling, a friend of ours – a realtor, who knew our experience – bought in Carlsbad for "investment".
