WHY BUY INTO A BAD INVESTMENT?

3 needs and 3 implications

Curtin University recently produced data to confirm what most people already know – that buying your own home is rarely a good investment and is often a very bad investment.

But does this mean that people should not buy their own home?

Research reviewed by Hugh Mackay suggests that they probably should.

Hugh postulates, based on extensive research that having a ‘place’ that an individual can call ‘their own’ is a key driver of human (including consumer) behaviour. While that place need not be a house and need not be owned, it still needs to be a place that delivers:

  • A sense of security
  • A sense of belonging
  • A sense of comfort

Hugh further postulates that many people also seen a ‘place of their own’ within the family home, with that place potentially being:

  • The study
  • The bedroom, or even
  • The bed

Hugh’s postulations have even broader implications for business in its effort to understand human behaviour in ways that enable them to manage that behaviour to deliver favourable commercial outcomes.

These implications include, but are not limited to:

  • People liking to sit in the same chair and at the same table when they visit a restaurant, bar or even hairdresser.
  • People wanting to live in a community that they can engage with personally and tangibly identify as their own.
  • People identifying with their heritage and wanting to visit the places from where a family member has come.

Research suggests that this need for a place even extents:

  • To the individuals car being his or her cocoon
  • Their cubical at work being a safe refuge
  • Gang territory being worth defending

So we need to remember the importance of:

  • Having a place to call home
  • Having a place to feel safe
  • Having a place to giver meaning

What are your experiences here?

Where to you feel most secure?

Is this a better basis for selling homes than avoiding rent?

This issue will be discussed in more detail on THE D. JOHN CARLSON NETWORK – www.djohncarlsonnetwork.com

D. John Carlson is a behavioural scientist, strategic planner and lateral thinker focusing on branding, marketing and communication. Visit his blog – www.djohncarlsonesq.com

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