People mentally anchor to housing prices from the past and fail to update models when market conditions change, causing them to demand the same prices they would have received in prior years despite changed market fundamentals.
factualpending
Speaker
Barry RitholtzEvidence Quote
“Bob down the street has the same model house as me and he got 700,000 why can't I get 700,000”
Source
Why Money Isn't What You Think: Barry Ritholtz on the Meaning of Money and How NOT to Invest It— Excess ReturnsCreated: 8/11/2026, 5:35:27 AM
My Notes
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