Re:US Housing Affordability Hits Worst Point in Nearly Four ...
by danaris on Monday August 21, 2023 @02:35PM
(#37213562)
"Can't" == "refuse to lose money on the transaction".
That's not a luxury we plebes have when buying and selling homes. If the market happens to have crashed just before we have to move, for whatever reason, we have to take the loss, no matter how much it hurts.
So these lovely people (I'm sure) just lock up vast amounts of real estate at unrealistically inflated prices, hurting the entire system, purely so that they don't have to record a loss.
That's not a luxury we plebes have when buying and selling homes. If the market happens to have crashed just before we have to move, for whatever reason, we have to take the loss, no matter how much it hurts.
So these lovely people (I'm sure) just lock up vast amounts of real estate at unrealistically inflated prices, hurting the entire system, purely so that they don't have to record a loss.