If he’s been trying to sell for ten years and can’t drop the price, he idiotically bought at the top of the bubble in 2007, paying a bubble price and somehow feels entitled to get what he paid out of the property.
But, it’s Paul’s fault for not razing trees that would make his house a more valuable lake view property, not his own fault for foolishly paying top dollar at the top of a bubble. Economics are never the strongsuit of leftists.
Some people are so blinded by greed, common sense and business sense are lost.
Recently,I was interested in a seven acre piece of land, with some nice views. Price was 199K. I liked it but my wife pointed out some of the negatives.I kept talking with the seller. Then suddenly he said, "out of courtesy he was letting me know the price was going up in a week, to 207K. However, the price was still 199K for the next week. I instantly recognised the squeeze play, he was attempting.
Well, I've watched the price go from 199K, to 207K to 220K and the lastest price is 283K. Clearly, he's lacking business sense.
I guess this guy's theory is, if something doesn't sell, the price is too low.