Borat….I understand they don’t think they can “afford” to drop their prices, but my point remains the same because those sellers don’t fall into people who must sell their homes for whatever reason. If you HAVE to sell your house, you better move it quickly and be one of the “few” to drop your price to what might be considered to be a bargain, because when everyone drops their prices, it will be too late.
The banks who held MBS, CDS too long are now in that boat. People were wondering if Merrill was prematurely dumping securities last summer and questioning the move, but now they look like freakin geniuses.
