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This is a function of a few things. Here are a couple reasons that happens: -Their mortgage is close to underwater. They have to sell at an objectively high pr
by Domenic_S 14y ago
This is a function of a few things. Here are a couple reasons that happens:
-Their mortgage is close to underwater. They have to sell at an objectively high price to get out.
-They're trying to short sell under an agreement with their bank. They price it intentionally high to keep it from selling.
- jpdoctor 14y agoSure, but there is a third reason: People have a very tough time admitting a loss. And it's not like those prices are going to come back in our lifetimes (if you're on the coast).