Shockingly (really), just 60% of homeowners believe that their home prices decreased in the prior year, when in actuality, 83% of homes declined in price
It's amazing to us that homeowners are STILL not caught up on the reality of this market. Will the market come back one day? Yes, of course. Is it going to be next year? We personally don't think so and most analysts agree with us with consensus seeing another 10-15% nationwide drop in housing prices before we hit a bottom.
But then again, it's not like anybody is trying to sell a 6th floor walk-up for almost $900,000 here in Lower Manhattan, right? Oh...wait.