I read the article twice and I didn’t get the impression in the example of Boston in the 90s the people who listed too high and didn’t sell had them on the market because they couldn’t afford the homes. I didn’t read all that into it.
By the way, selling at a loss isn’t easy if there’s no equity in the property. You either have to have cash to give the bank to make up the difference OR hope the bank will accept less than what is owed, which doesn’t happen very often.
