A few minutes after I wrote about the absence of retardness, I found a gem. Admittedly, it's not from a journalist but it was on the Washington Post's "real estate board".
“I’m so mad at my neighbor. I bought my new home here in Ashburn last summer and plan to sell it next year (after holding two years to avoid taxes) to make a nice return on my investment. The problem is my neighbor is trying to sell his house (very similar to mine) right now and he keeps lowering his asking price.”
“Each time he lowers his price, I see my potential profits next year getting squashed. Doesn’t he realize he’s hurting the comps for all of his neighbors by doing this? I want to say something to him and tell him he should stop putting his interests ahead of his neighbors. What can I do to stop him?"
Sweetheart, there's nothing you can do. You're going to experience an epic ass-pounding!
(Economic Theory: Prices are set at the margin.)
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