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May 17, 2007

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What Levitt and Dubner failed to note was that the factor they casually mention they failed to adjust for, that the houses on unsavorily named streets tended to be smaller, was actually the data they should have been analyzing in the first place. The fact that a street has an unsavory name has a far more pronounced effect on what gets built there than it has on the resale price of houses there compared to comparable houses in similar neighborhoods. If you own a lot on Jackass St., are you more likely to spend what it takes to build a mansion or a shack?

Neither they nor any of the commenters made the obvious association to the greatest real-estate naming scam in history: beautiful Iceland and unliveable Greenland.

Both of which go to show which profession NOT to ask for real-world financial advice.

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