Priceless

The home next to Barack Obama's in Hyde Park, Chicago, has just gone on the market. It will probably sell for a premium because of the Obama connection, but who can put a price on that? The sellers aren't trying, listing the house with no asking price. A classic study on the psychology of prices suggests that it's better to set a high asking price for an item of uncertain value. People are swayed by asking prices even when they know better — and that includes real estate professionals. Read More