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High hopes, falling prices Homeowners cling to false optimism about own home
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Most of the time their losses are paper losses that they would have only been able to cash out if they had sold at the peak of the bubble.
I don't feel sorry for anybody who is trying to "cash out" and is having a hard time getting the inflated 2006 price.
This is going to be a long hard correction for everybody.
Good luck, but you shuold jus try asking a reasonable price for the home and not some over inflated price reflected in self grandger.
If the seller is overpricing their home ridiculously, it doesn't matter what the percentage of price declines is. That 1.6% is ACTUAL sales. The seller's wishing price is most likely off the charts.
Back to the 1950's. Remember the movie, "Back to the Future".
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