The Importance of Behavioral Economics in Real Estate

I think it's interesting that we use economics as well because one of the things I think a lot people miss about economics, they learn the models, but they forget about we always talk the assumptions. And those assumptions are never true in the real world. Okay, so if this assumption isn't true, then what happens to this model? If you're trying to take the perfect competition market, let's say, where a capital is allocated perfectly, then you shouldn't be able to beat the market. But like said, capital isn't allocated perfectly. There are all these different ways you can arbitrage where things are overvalued and things undervalued. That's where you can make a difference