If you believe that you are dumber than you sound. Comps are created at the fringes…you don’t need 60% of the sellers to be serious.. you only small % to affect the comps and reduce prices.
Give it up Steve, your comments are either disingenous or you really don’t understand what’s going on right now. Spend more time reviewing the earlier threads and maybe go to Ben Jone’s blog to get a wider view of driving forces (the housing bubble is really a credit bubble: the high house prices are a symptom of it). Otherwise, quit trollin…
Murray, you can’t really be stupid can you?? Are you sure you understand the difference between the mean (average) and the median? Doesn’t sound like it.
Regarding everyone wants to live in SD…uh no, they don’t. The companies I’ve worked for have all had major difficulties recruiting from other parts of the country because of the housing prices my friend. The company I’m at right now is seriously looking at moving out of SD because the cost of living is too high relative to whay they can afford to pay.
“What this translate to is that even a motivated seller (as long as they are informed and understand the market) is much more willing to hang on to their property for several more months because when the buyer’s market does turn (as it always has) they can sell for much more than a panicked seller.”
Motivated Seller?? You mean a greedy ignorant seller is going to hold out until the buyers market becomes a sellers market again? If so, sorry, but the seller is going to be waiting a long time because it’s not yet a buyers market let alone at a turning point back to a sellers market. Hopefully I’m just misinterpreting your comments.
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