I’m fixated on this chart.
I always used to underestimate the psychological aspect of investing. But it plays an important role in any tradable asset. This chart represents the number of houses in Arizona that have cut their listing price. What do you think the mentality is of this individual? Sit and think about it. Then ask, ‘what impact will this have on the actual housing market’? As the velocity of this green arrow increases people will start unloading. Fear will become an important driver of prices.