Dear Monty: I recently read that markets can change rapidly in neighborhoods. The term “hyperlocal markets” appeared in one of your recent columns. I am an experienced real estate agent and have yet to hear of this concept. I am not challenging the conclusion, but curious to know how you determined it. Do you have any research that supports your conclusion?
Monty’s Answer: When someone knows something no one else or very few people know, one is unlikely to find research on the subject. I have found no research to validate or refute my hypothesis. This writer has studied the real estate industry for over 50 years, initially as a disciple seeking to know more and more about the origins, motivations and practices of a business that enthralled me. But as time passed and I learned more, I began to apply continuous improvement tactics to my observations. Over time, these observations morphed into insights, then into my writings. I have come full circle from being a disciple to a critic….