DonLever Posted March 26, 2014 Share Posted March 26, 2014 You don’t have to believe in superstition for it to hex your house, if the results of a forthcoming Canadian study are any indication. Reporting in the journal Economic Inquiry, researchers uncover enormous costs associated with “magical thinking” in real estate transactions in neighbourhoods with a high concentration of Chinese residents. The good news, however, is that they also identify payoffs — on average, around five figures — when superstitions run in a seller’s favour. “We do find premiums and penalties associated with numbers that are thought to be lucky or unlucky in the Chinese culture,” said lead author Nicole Fortin, a professor at the University of British Columbia’s Vancouver School of Economics. “And these are really sizable transactions.” Analyzing nearly 117,000 home sales between 2000 and 2005, researchers discovered that in areas whose share of Chinese residents exceeded the metro average, houses with address numbers ending in ‘4’ were sold at a 2.2-per-cent discount while those with numbers ending in ‘8’ were sold at a 2.5-per-cent premium. Four is associated with death in Chinese culture, and eight with prosperity. Given the average house price of $400,000 during the study period, Fortin said superstition ultimately meant the difference between an $8,000 loss or a $10,000 gain in comparison to houses with addresses ending with any other digit. “Real estate agents are very aware of this, and they exploit it,” Fortin said. In one Vancouver ad, for example, she found eight of 20 homes aimed at buyers from mainland China ended in ‘8,’ as did the asking price of 11 of the homes. Similarly, a 2012 analysis by Trulia.com found that in Asian-majority neighbourhoods, the last non-zero digit of an asking price ended with ‘8’ in 20 per cent of listings — and 37 per cent of those priced at a million or higher — versus just four per cent for other areas. Fortin cites important public policy repercussions, noting that some people will petition to change their addresses — often by subdividing or via another legal loophole — to make their properties “luckier.” One of her own neighbours, in fact, had the last number of his home altered from a four to a six. “I wondered why he didn’t get an ‘8.’ He probably tried,” Fortin said. “But should municipalities allow people to change their address just because they don’t like the number?” In Canada, where people of Chinese descent account for five per cent of the population, Fortin said the implication is that something as seemingly innocuous as a home address could affect whether a property flourishes or is left to deteriorate. To wit, study co-author Andrew Hill emphasized that disbelief in such superstitions doesn’t inoculate against them. “If everyone knows that these belief premiums and penalties are going to persist — even if they don’t believe in (the same thing) — it can have an effect,” said Hill, assistant professor of economics at the University of South Carolina. “As a property investor, it just makes no sense to have a house number that could lose you money.” Importantly, however, Edmonton real estate agent Taylor Hack said emotion can overcome reason in almost any purchase of a principal residence, regardless of cultural background. “We have to take that into consideration when working with anyone,” said Hack, of Remax River City. “Everybody has their own level of superstition. If some people were aware that a traumatic incident happened in the home, they’d have trouble with it.” mharris@postmedia.com Link to comment Share on other sites More sharing options...
Grapefruits Posted March 26, 2014 Share Posted March 26, 2014 Watched the report on the news earlier. Where does a 6 stand? Break even? Link to comment Share on other sites More sharing options...
ckamo Posted March 26, 2014 Share Posted March 26, 2014 Watched the report on the news earlier. Where does a 6 stand? Break even?I skimmed the article, doesn't seem like they explain it....4 is an unlucky number because in Chinese it sounds like the word for "dead".8 is lucky because it sounds like the word for "fortune".Not sure where the rest of the number stand, but I certainly noticed that a lot of home on the market (at least 3 years ago when my family was moving) were selling for prices that ended in a series of 8's.Edit:Actually, now that I think about it, the building that just went up across the street from me doesn't have any floors ending in 4, I think they did include levels 40-49 though (except 44). Similar to how some buildings don't have a 13th floor... Link to comment Share on other sites More sharing options...
drummer4now Posted March 26, 2014 Share Posted March 26, 2014 I remember hearing about this couple of years ago on the news. I think it has to do with feng shui. Link to comment Share on other sites More sharing options...
Where's Wellwood Posted March 26, 2014 Share Posted March 26, 2014 I skimmed the article, doesn't seem like they explain it.... 4 is an unlucky number because in Chinese it sounds like the word for "dead". 8 is lucky because it sounds like the word for "fortune". Not sure where the rest of the number stand, but I certainly noticed that a lot of home on the market (at least 3 years ago when my family was moving) were selling for prices that ended in a series of 8's. Edit: Actually, now that I think about it, the building that just went up across the street from me doesn't have any floors ending in 4, I think they did include levels 40-49 though (except 44). Similar to how some buildings don't have a 13th floor... You should order a pizza and ask for it to be delivered to the 4th floor. Link to comment Share on other sites More sharing options...
Grapefruits Posted March 26, 2014 Share Posted March 26, 2014 You should order a pizza and ask for it to be delivered to the 4th floor. Wouldn't ordering Chinese food be more appropriate? Link to comment Share on other sites More sharing options...
KoreanHockeyFan Posted March 26, 2014 Share Posted March 26, 2014 Many buildings don't have a fourth floor. And yes, 4 and 8 are the only numbers with superstitious significance. 4 is pretty much bad in all East Asian cultures. Link to comment Share on other sites More sharing options...
drummer4now Posted March 26, 2014 Share Posted March 26, 2014 Many buildings don't have a fourth floor. And yes, 4 and 8 are the only numbers with superstitious significance. 4 is pretty much bad in all East Asian cultures. I believe its load of @*&#^!& but that just my opinion. I just searched this up on Wikipedia and yeah you're right that its common for number 4 and 8 to be considered unlucky or bad in East Asian cultures. Nokia doesn't have series 4 phone for that reason.. What happens to the people who believe this stuff if they receive money with 4 or 8 digits? or have to enter buildings with 4 stories? The possibilities of encountering 4 or 8 go on... Link to comment Share on other sites More sharing options...
DonLever Posted March 26, 2014 Author Share Posted March 26, 2014 Most Western buildings don't have a 13th floor. So it is not only Asians that are superstitious. Link to comment Share on other sites More sharing options...
Del Rio Posted March 26, 2014 Share Posted March 26, 2014 Very important in the Asian community. I know people who work at phone places and they say a lot of people sell their phone numbers with the good luck numbers for thousand's Link to comment Share on other sites More sharing options...
Ghostsof1915 Posted March 26, 2014 Share Posted March 26, 2014 Reality check. Superstition only is used for a negotiating tactic. My friend who is Chinese-Canadian sold his house last year. It was a long and frustrating ordeal. He kept getting low-balled because his house was in front of a T-intersection. He was told by his real estate agent this, and he flipped. It wasn't belief in feng shui , it was just a way to get a better price. He pointed out if roles were reversed and he was buying the house, they'd probably rebuild the place and design it so that it would be in more "harmony". But he stated if it made the house ugly he'd use that as a rational point rather than a superstitious one. I do find it ironic, that he used to study baguazhang. A type of kung fu, with inspiration of the eight trigrams and circle walking. Link to comment Share on other sites More sharing options...
Dazzle Posted March 26, 2014 Share Posted March 26, 2014 Reality check. Superstition only is used for a negotiating tactic. My friend who is Chinese-Canadian sold his house last year. It was a long and frustrating ordeal. He kept getting low-balled because his house was in front of a T-intersection. He was told by his real estate agent this, and he flipped. It wasn't belief in feng shui , it was just a way to get a better price. He pointed out if roles were reversed and he was buying the house, they'd probably rebuild the place and design it so that it would be in more "harmony". But he stated if it made the house ugly he'd use that as a rational point rather than a superstitious one. I do find it ironic, that he used to study baguazhang. A type of kung fu, with inspiration of the eight trigrams and circle walking. I agree with this. Feng shui is garbage. There is no scientific proof for the claims made by its believers and if a 'bad thing' can be alleviated by doing something else, there is something very wrong with that. People can 'feng shui experts' yet they have different opinions on the topic. They are not scientists. It's purely baseless opinion. Anyhow, this has nothing to do with feng shui in this particular scenario. This is just dumb. Link to comment Share on other sites More sharing options...
Aladeen Posted March 26, 2014 Share Posted March 26, 2014 I agree with this. Feng shui is garbage. There is no scientific proof for the claims made by its believers and if a 'bad thing' can be alleviated by doing something else, there is something very wrong with that. People can 'feng shui experts' yet they have different opinions on the topic. They are not scientists. It's purely baseless opinion. Anyhow, this has nothing to do with feng shui in this particular scenario. This is just dumb. Yah anything that can't be explained by Science is garbage and baseless. I guess it's so baseless and such garbage that it has endured for thousands of years in a civilization that for the vast majority of history has been more technological advanced than the west. Its interesting to note that the civilization which would embrace something so baseless and unscientific was going through their bronze age right around the time Stonehenge was constructed. Just because Feng Shui has been corrupted by "new age" western spiritualist doesn't mean there is nothing to it. If you study it further you find that Feng Shui is based off of the I Ching. The I Ching was the ancients way of understanding Nature's cycles. If you look into these Cycles (the easiest to see is the day/night cycle), you will find that most of these cycles follow a sine or a cosine wave pattern. If you could determine at what point you are on that wave pattern the ancients believed it would be possible to predict certain types of events happening (such as the sun rising in a particular place or the moon being of a certain phase). So do a little research (you know scientific method) before you condemn something completely. If you have a scientific bone in your body then start looking into Quantum Physics and realize that it's ridiculous to confirm any theory as true or absolute just as it is to dismiss or label another theory as absurd or impossible especially one that has endured longer than western civilization has existed for. Link to comment Share on other sites More sharing options...
Jester13 Posted March 26, 2014 Share Posted March 26, 2014 Yah anything that can't be explained by Science is garbage and baseless. I guess it's so baseless and such garbage that it has endured for thousands of years in a civilization that for the vast majority of history has been more technological advanced than the west. Its interesting to note that the civilization which would embrace something so baseless and unscientific was going through their bronze age right around the time Stonehenge was constructed. Just because Feng Shui has been corrupted by "new age" western spiritualist doesn't mean there is nothing to it. If you study it further you find that Feng Shui is based off of the I Ching. The I Ching was the ancients way of understanding Nature's cycles. If you look into these Cycles (the easiest to see is the day/night cycle), you will find that most of these cycles follow a sine or a cosine wave pattern. If you could determine at what point you are on that wave pattern the ancients believed it would be possible to predict certain types of events happening (such as the sun rising in a particular place or the moon being of a certain phase). So do a little research (you know scientific method) before you condemn something completely. If you have a scientific bone in your body then start looking into Quantum Physics and realize that it's ridiculous to confirm any theory as true or absolute just as it is to dismiss or label another theory as absurd or impossible especially one that has endured longer than western civilization has existed for. So many fallacies in this ^ I'm just going to stay out of it Link to comment Share on other sites More sharing options...
Aladeen Posted March 26, 2014 Share Posted March 26, 2014 So many fallacies in this ^ I'm just going to stay out of it please do contribute I would love to have the fallacies I have stated pointed out. Link to comment Share on other sites More sharing options...
aGENT Posted March 26, 2014 Share Posted March 26, 2014 I go two 8's in my address...ca-ching! Link to comment Share on other sites More sharing options...
Aladeen Posted March 26, 2014 Share Posted March 26, 2014 I go two 8's in my address...ca-ching! Is it working for you? And if it is can you answer me this?... Can ya spare any change? Link to comment Share on other sites More sharing options...
avelanch Posted March 26, 2014 Share Posted March 26, 2014 Is it working for you? And if it is can you answer me this?... Can ya spare any change? if it IS working for him, i doubt he'd carry any change around... change is for the poor... Link to comment Share on other sites More sharing options...
Dazzle Posted March 26, 2014 Share Posted March 26, 2014 please do contribute I would love to have the fallacies I have stated pointed out. The problem is...he's right. Your post is so problematic that I'm not even going to bother to get into it because there's nothing to work with. It's so obviously hypocritical that if you can't even see it, there's no point in discussing it. Link to comment Share on other sites More sharing options...
KoreanHockeyFan Posted March 27, 2014 Share Posted March 27, 2014 Why are people so agitated by Asian superstition? It's been a tradition for thousands of years. And of course Feng Shui isn't real, you don't have to provide scientific studies to prove that...it's just one of those things that reflects how people can be irrational. This just makes me wonder why non-Asian people aren't flipping tables over during Chinese New Years. Link to comment Share on other sites More sharing options...
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