This can’t be surprising to anyone at this point as it’s all relative. Just as buyers of $500K (list price) condos are walking away from $50K deposits because they believe the current market value is $300K, it makes perfect sense to see buyers of $10mil (list price) condos walking away form $1mil deposits for places that are now worth $7mil (and less). That’s the world we live in. But I bet most of these high-flying folks never thought such things would happen to “them.”
