Sunday, August 06, 2006

I'll Take the Price Cut

This is a good article from MSNBC. I'm not interested in concessions. I want a price cut.


[And those statistics may not tell the whole story. Sellers coast-to-coast are now making concessions that don't show up in the official sales price, like picking up the cost of repairs or paying buyers’ closing costs. Home builders are giving away valuable upgrades — everything from fancier kitchens to a free pool — to move new homes.

“So the the effective price is lower and probably already falling, but you don’t see that in the market price,” said Mark Zandi, chief economist at Moody's “I’m expecting 5 to 10 percent peak-to-trough declines in a third to maybe half of the nation's markets.”]

Full article


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