How the Market is Affected by Professional Sports
After the 2019 NFL draft, SportingNews.com has ranked the Indianapolis Colts as the 5th best team in the NFL heading into the 2019 season. Which is great news for any Colts fans (ALL OF US), but have you ever considered the positive effect on the housing market?
A lot of Hoosiers love the Colts. I choose the word “love” very much on purpose. Our emotional investment in the team dictates our overall behavior. When the Colts win, we might go buy a jersey or another soda. We’ll be more likely to grab a bite afterwards to bask in the victory. But it also instills overall confidence in buying.
I remember back in 2012 after the Colts won the Super Bowl at the end of the 2006 season, central Indiana was a happier place. The high was everywhere. I remember going to the dentist, mind you this is in March which is the NFL offseason, and everyone on staff was still wearing their jerseys. That type of positive emotion makes your proud of your community, and when you’re proud of your community, you invest, increasing the probability of buying a home.
This fall as the Colts storm the field at Lucas Oil, you now have two reasons to cheer- 1. So the Colts can win their 3rd Super Bowl and we can rub it in New England’s collective faces and 2. Because when the Colts win, the real estate industry wins.
For more information on this subject, go here.