Zach Du, Chapter 7, Question 6

In Chapter 7, Wheelan explains the idea of get-rich-quick is impossible in real life scenario by illustrating an example of buying a brownstone in the Lincoln Park neighborhood of Chicago. If you've been searching for a brownstone house in this neighborhood for couple weeks, and the price range of these houses all between $450,000 to $600,000. Suddenly, you find one brownstone which has the price of $250,000, and it satisfies all your requirements including location, size and structural integrity. But the fact is you will never find a house like this in real life: 1. nobody would sell their house for half price when they are aware of the average price range in their neighborhood; 2. If the house actually this perfect, why won't the agency buy it for himself; 3. people will begin a bidding war for getting this house, which would cause the price rising and eventually match the average market price. So the example tell us that "the most basic idea in economics: you are trying to maximize your utility-- and so is everybody else."