Industry News

Money can buy a big house … but not happiness

Psychologist author applies research to real estate
Published on Jul 28, 2006

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by CareyBot

Home sellers may be at risk of earning less on the sale as the real estate market transitions to a buyer's market -- and they are at risk of losing something else, too: happiness.

Daniel Gilbert, a Harvard University psychology professor and author of "Stumbling on Happiness," said it's common for sellers to feel a loss when they are parting with something, and that loss can be more substantial to a person's happiness than the happiness that a buyer gains through a purchase.

"Sellers overvalue things relative to buyers ...