Iniles. What you speak of happens but it is not the standard in home sales. It has beomce the widest spreading rumour of what happens in the market. It is not the realtor that drives the market, it is the BUYER. People want to blame the feds, lenders, realtors etc… but the person to blame is the BUYER. Without a buyer who is dumb enough or willing enough to pay 5x what a home is worth the seller wouldn’t be able to sell it.
The consumer is responsible for the run up because they didn’t hold strong, they ran like sheep and got the biggest sucker loan they could. People need to look in the mirror to find the real culprit of the RE run-up.
