[quote=qwerty007]You’d think with all the turmoil it would add downward pressure on prices. My brother-in-law is totally convinced his house is exactly the same value it was at the peak. A friend has been trying to sell his house for +$1m for six months, and it’s very clearly over-valued. So you have obsessive denial to the gamble a mug is around the corner, and let’s face there are always going to be a few of those willing to pay the asking price. IMO it’s better prices fall gradually. Just look at the damage so far.[/quote]
People really don’t want to take their losses unless they have to.
