In an article entitled, "Power, Optimism, and
Risk-Taking," based on five separate studies involving students, Anderson and
Galinsky’s findings apply to powerful people.

The study points out that risky behavior can be
beneficial, helping individuals maintain or even increase their power.
By engaging in risky behavior, the powerful may take advantage of
opportunities that others avoid.
However prior success or sense of power
can lead to disastrous mistakes, but until now there’s been little
research that establishes such a link, Anderson notes.

It is an interesting set of studies that will make you think and wonder what type of mindframe you need to be successful and how to engage risk with the right mind set.

Click here to read PhysOrg.

The National Association of Realtors is predicting home prices will fall temporarily in the U.S.  Could it be pessimism?

So if the famous answer to when is the best time to buy a house? Yesterday!  Does it still apply?

I am wondering if NAR is trying to put to rest some criticism it took over this last year for being eternally optimistic.  And here is the question, do they need to keep a million people pumped up about prospective for home sales?  Most people would ask them to be realistic only.  They also need to justify their existence and fees. 

Prediction that sales were to slow, inventories and prices rising was easy to see according to trends.  What rubbed many the wrong way was painting a rosy outlook when things were otherwise in the field.

I am happy to hear more correct terms, such as: "housing market correction" which is exactly what we are seeing now.  We are experiencing a correction or if you will a return to a normally appreciating market.  If I was to really predict anything I would say it depends on two factors, global and national economy, and natural disasters.  If the economy does better than it is now and we have no natural disasters, then the market should fair well.  If, however, the economy continues to slow down and a natural disaster should strike, we would be in for a rough landing.

Market Watch paints a rosy picture of NAR.  I’m not against NAR, per se.  They have a hard job to do keeping many agents happy.  However, what I really need are faithful to the truth news. 

Here is Market Watch.