January Market Update by Randy Dyck
Group Polarization

I recently read an article written by David Myers on the psychology divide between religious groups and the animosity and fighting that breaks out between kindred folk. In essence these groups have marginal differences, yet are willing to kill one another over their differences. In Myers article he writes about “those of like mind often produce group polarization”. In an experiment, Myers discovered when highly prejudiced students discussed racial issues, they became more prejudiced. When less prejudiced students talked among themselves they became more tolerant and accepting. He went on to conclude that ideology plus conversation created greater polarization between the two groups. Myers goes on to say how important it is to have these commonality conflicts, it essentially helps us understand and view a bigger world when peaceful , deep, and informed debate happens.

I also believe that group polarization is essential in real estate investing. Benefits such as: Camaraderie, providing confidence in one’s investment beliefs, and fostering unsolicited mentor ship between fellow investors. However, the cons can be devastating, much like the students that became more prejudiced when given the opportunity to share their ideology and had closed minded group discussion. When surrounding ourselves with other real estate investor we need to be aware of the pros and cons of group polarization. Ask you self, what investor ideology do you believe in? Do your fellow investor friends share your ideology? Are you closed minded or are you willing to discuss and explore other investor ideology? Group investor polarization; use it to your benefit. Debate, dissect, analysis, and understand each other’s common goal of building long term wealth through real estate investing. And in the end all will be wiser and better informed to the opportunities that exist. Call me or email me for a personal breakdown of the market and where the best place is to invest. You can reach me at 604-807-4366 or randy@eximus.com.

Here is a snapshot of the Fraser Valley and Greater Vancouver market trends compared to January 2014.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Randy Dyck PREC
604-807-4366
EXIMUS REAL ESTATE TEAM