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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Tradelite who wrote (44272)	11/8/2005 2:02:57 AM
From: Doughboy	Read Replies (1) \| Respond to of 306849

There is such a thing as pricing something too high, to the point where it won't sell, but there isn't any such thing in real estate, in my experience, where the "right price"--meaning a competitive price-- wouldn't sell something, almost immediately. If something is plentiful and easily duplicated and readily available, it might never sell, even at a competitive price. Huh? What are you talking about? I think Mishedlo was simply saying that just because a city like SFO or NYC has a lack of space for development does not mean that it can't be overpriced and subject to a bubble. You seem to have made the classic mistake of believing there is some "right" price that reflects intrinsic worth untethered from the market price. The market equilibrium price equals the right/competitive price. Go back to Econ 101. Doughboy.