Behavioral scientists have found that the pain of a loss is felt more strongly than the pleasure of an equivalent gain.
Studies by behavioral psychologists have repeatedly found that humans are deeply loss-averse.
Nobody wants to lose money – homeowners try to sell when their equity is high, but hang tight to their property, if they can, when they might lose money or make less than they expected. This is especially true in a luxury market like Montecito which is driven by “wants” and not “needs”.
Are you “loss-averse”?
What Happened in Montecito Last Week?
September 24th – September 30th
weekly spotlight
An exclusive interview with Braden Sterling of S|H Architecture.
That sums it up for last week!
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