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reality strikes home

Started by ruff
over 17 years ago
Posts: 118
Member since: Nov 2008
Discussion about
http://www.radarlogic.com/research/RPXMonthlyHousingMarketReportforSeptember2008.pdf Exibit 1, bottom column, full Manhattan Condo report by neighborhood out tomorrow I think. Spin it!
Response by front_porch
over 17 years ago
Posts: 5324
Member since: Mar 2008

The spin is this: only 4% motivated sellers and less than 5% fall in price equals 13% fall-off in volume.

With mostly unmotivated sellers, sellers are going to continue to dig in their heels on one side, and buyers are going to continue to dig in their heels on the other. Volume will continue to fall off the cliff.

ali r.
{downtown broker}

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Response by nyc10022
over 17 years ago
Posts: 9868
Member since: Aug 2008

remember, this is september data. Barely getting panic effect in.

Keep in mind that october stats so far show a 75% decline in volume...

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