For those of you bored with Lawrence Yun’s ambiguous nonsensical evaluations of the housing market, here’s a 2 minute video (following a 30 second commerical) on people who refuse to lower their prices with a cameo by David Liarah explaining why after years of “blood guts” people are resistant to dropping their prices.
The video does say prices may need to fall another 20-40% in some areas to “match reality”, but the lady they interview says she’s not budging.