Quote:
Originally Posted by darklord700
I think the 700+ market is the luxury market. People tend to upgrade form the 500K market to 700K+ market. But in this economy, potential upgraders will just stay put in their 500K house instead of upgrading.
|
So (again assuming) what happens as things get worse or stagnate (which still means getting worse) to all these $700,000+ houses that aren't moving? That aren't being sold or even toured. How do people that are short money, negative cash flow, etc. sell these houses that currently people aren't willing to buy when houses in sub $500k range are still selling quite well?