Wisdom of crowds

Textbook example of the ‘wisdom of crowds’.

EnidBuzz posted an apartment rental ad. It’s a big fully renovated 2-bed fourplex on the nicer side of town, not far from Vance AFB. The rent is $970.

Half of the commenters said it was a good deal, half said it was way too expensive.

Which is it? The last time I rented a 2-bed duplex was 1989. It was the upstairs of a well-maintained old building, ‘faded elegance’, in State College. The rent was $415. Using the official CPI calculator, $415 should be $964 today.  Just right.

The crowd pinned down Just Right at the median of High! and Cheap!

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