If people have a lot of money invested in their property, I can see the reluctance to lower their price. But most people bought at peak w/zero down. Maybe they can’t reduce b/c of banks/what they owe. But when the bank is left holding the bag, there should be no emotions involved. It’s business. Yet the banks won’t reduce. I
I see homes that are trust/estate sales or bought back in 1980’s or 90’s that won’t reduce. If they foolishly have taken out equity and maxed out, then it’s up to the bank, but otherwise, their greed needs a reality check and if they want to sell, then unless they are blind and deaf, I have trouble understanding the resistance to lowering. They are making a profit. The longer they hold on, their profit continues to dwindle.
