“I have noticed that there are many properties on sale that are empty. How come homeowners are willing to wait with their empty houses for sale rather than to reduce their price a little bit to sell the properties more quickly. Is that the way to do business, or are they really rich?”
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Whether its good business or not has much to do with the seller’s carrying costs and how long than can cover them. If they can afford it and can ultimately get a number that more than covers their carrying costs, then that’s probably good business. I imagine astute sellers who are tuned into the current market have the finances calculated and will take calculated risks so as not to leave much money on the table. I also imagine sellers who are married to a number that is too high and may have to learn Economics 101 the hard way in a literal crash course.
