However, psychological and social risks were less likely to be perceived. When asked a
further question about why they worried little about these two risks, most interviewees
considered that as yet there was no recognized rich area or poor area in Chinese cities, and
high-income earners often lived with low-income earners in the same residential district.
Moreover, houses were so expensive that owning a home was a type of achievement or
success. Second, laypeople tended to evaluate risks in a combined manner (probabilities
multiplying consequences) instead of separating probabilities from consequences. Third,
anticipation of regret was often accompanied by perception of risk in house purchase; CFT
experienced regret and dissatisfaction was often felt jointly. Fourth, some interviewees
tended to focus on unfavourable aspects instead of merits of the bought houses. Fifth,
interviewees generally attempted to minimize risk and possible future regret in home
purchase until they were at certain acceptable levels. Sixth, all interviewees with regrets
had the intention of house switching and negative word of mouth, no matter who was
responsible for the regrettable consequences.