Housing Slump Article

Here is a link to an article I read on the housing slump:
http://www.msnbc.msn.com/id/22065972/

Read it and then come back here.

The last paragraph reads: "Keep in mind that in any housing market there is always a buyer — if the price is right. One reason houses aren’t selling well in some areas is that some buyers who are waiting for prices to recover are unwilling to acknowledge that they may have to settle for a little less. If asking prices remain stubbornly higher than recent sale prices, it will take longer for the level of home sales to pick up again. "

I assume that the writer meant to say that "One reason houses aren't selling well in some areas is that some SELLERS who are waiting for prices to recover are unwilling to acknowledge that they may have to settle for a little less."

This is the truth. Until Sellers get the hint that the real estate boom is over, prices will remain high. Buyers think it is a buyer's market and sellers still think their homes are worth more than they are. Until the two meet at the same mindset, we will remain at an impass, and you will continue to see inventory rise.