Can consumers really compare prices?
I’m the principal grocery shopper for a household of three and I know that a 3-pound bag of carrots is $2.99, a pound of sirloin steak at my butcher is $14.99, and so on. Two years ago, the bank valued my house, but a few weeks ago a much smaller house across the street, with a smaller and less desirable lot, sold for hundreds of thousands more than the bank’s value. I thought I knew what the house was worth. Turned out, I was way off…in a good way this time.
