Appraiser Jonathan Miller, author of the widely watched Douglas Elliman housing reports, runs down on his blog Matrix the stages of reaction for real estate pros facing softening markets:
- Over hype the positive
- Spin, misdirection
- Denial
- Disbelief
- Passive acceptance
- Jump on the bandwagon
- Over hype the negative
Mr. Miller was writing about a Crain's editorial on real estate hype.
