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Prices and Days On Market


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2008 Jan 13, 11:48pm   27,773 views  305 comments

by Patrick   ➕follow (60)   💰tip   ignore  

dom

Sale prices are always given as an absolute number, without context. The reality is that falling prices can be masked to some extent by a longer number of days on the market.

Getting $500,000 within a week of listing is not at all the same thing as getting $500,000 after having the house on the market for 2 years, yet both are recorded as the same price. Ultimately, you can pretend your house is worth whatever you want by letting days on market go to infinity -- just pulling it off the market. No one will buy it for your dream price, but you don't have to face the reality that it is not worth what you thought either. Assuming you can pay the mortgage.

Realtors know that increasing days on market proves that a house is not worth the asking price. That's why they commonly try to scam users by re-listing a house as if it just came on the market.

Patrick

#housing

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247   Malcolm   2008 Jan 16, 1:28pm  

They then recently had the nerve to send my dog a fucking birthday card. Mother fuckers.

248   Peter P   2008 Jan 16, 1:28pm  

Are we being led to believe our pets require more care than necessary?

I am not going to do CAT scans on our cats.

249   Malcolm   2008 Jan 16, 1:31pm  

"Ethical people do ethical things. Why do you need to take a class? "

That was my point of view at the time. The final project: Write an essay on who are directore responsible to.

I said the shareholders only because ethical shareholders would not expect directors to do unethical things. Got a B or a B- on the paper.

Evidently shareholders put the results ahead of the ethics.

250   Malcolm   2008 Jan 16, 1:31pm  

directors

251   Malcolm   2008 Jan 16, 1:32pm  

MBA Marketing class conclusion. Vets are in a unique position because and I quote "When Fido is on the operating table, people will pull out the credit card and not question the amount."

252   Malcolm   2008 Jan 16, 1:35pm  

Since I love sharing the pet horror story I may as well post the link:
http://www.ripoffreport.com/reports/0/236/RipOff0236998.htm

253   Peter P   2008 Jan 16, 1:35pm  

I said the shareholders only because ethical shareholders would not expect directors to do unethical things. Got a B or a B- on the paper.

Well, IF I am the shareholder you are hired. ;)

“When Fido is on the operating table, people will pull out the credit card and not question the amount.”

I will tell the vet that my cat prefers alternative medicine.

254   Malcolm   2008 Jan 16, 1:38pm  

Present the vet with an advanced directive signed by your cat saying not to use any expensive treatments to prolong its life. :(

Sorry I know that may strike an emotional nerve.

255   Peter P   2008 Jan 16, 1:40pm  

I was lucky...

In one of the ethics classes, I claimed that bribery is not necessarily evil and that it is more of an indication of inefficiency.

The instructor did not disagree.

256   Malcolm   2008 Jan 16, 1:42pm  

I would have given you an A for original thought, and courage.

257   Malcolm   2008 Jan 16, 1:43pm  

The need to have bribery to get something done is more indicitive of a corrupt or otherwise broken system.

I somewhat share your point of view since system design is the core of my undergraduate and professional focus.

258   Peter P   2008 Jan 16, 1:44pm  

I would have given you an A for original thought, and courage.

Thanks.

As humans, we like to believe in justice, equality, fairness, and decency. The real world is not exactly like that... :(

259   Peter P   2008 Jan 16, 1:47pm  

The need to have bribery to get something done is more indicitive of a corrupt or otherwise broken system.

Yep. It also means that resources (services or resources) are severely mis-allocated.

Free Market seems to be promising. One challenge is to suitably regulate the market just so that it is efficient and HUMAN.

260   Malcolm   2008 Jan 16, 1:49pm  

But yet you defend the conditions in which the evils fester and (often correctly since state power does the same) yet don't even allow the option of the collective contribution for the overall social betterment. That presents a dilema to me.

261   Malcolm   2008 Jan 16, 1:51pm  

If a meteor was heading to Earth and going to wipe everyone out, who in your mind would try to stop it?

262   Brand165   2008 Jan 16, 1:55pm  

DinOR says: On the East Coast it’s all about “old money” and tracing your families wealth to the “whaling fleet”.

DinOR, have you ever even been to the East Coast? I mean really traveled there, not just flown in for a few days and then filled in the rest with movies and TV shows. The northern East Coast is about immigrants, not blue bloods. The defining aspect of the culture is Wall Street, Capitol Hill and the attitude that "anyone can make it in America".

The southern East Coast... well that's something entirely different.

263   Peter P   2008 Jan 16, 1:56pm  

But yet you defend the conditions in which the evils fester

It is more complicated than that... let's say we always oscillate from one extreme to another. Perhaps human society is a dilemma? Hey, if even God is unable or unwilling to solve the human problem, the dilemma is either hard or purposeful. :)

If a meteor was heading to Earth and going to wipe everyone out, who in your mind would try to stop it?

Interesting question. I doubt it can be stopped. I will call Bruce Willis and Ben Affleck.

264   Malcolm   2008 Jan 16, 2:00pm  

Assume it can, and if not hopefully someone would try. Who would it be? A government? Would a heroic corporation lose its wealth knowing it was the only one and there was no compensation?

265   Malcolm   2008 Jan 16, 2:02pm  

Or is this too simple? Maybe it clearly falls under "Provide for the common defense." Still the fundamental since I'm sure your conviction goes beyond the constitutional definition of government role. A strict libertarian view, who stops the meteor?

266   Malcolm   2008 Jan 16, 2:02pm  

How will the free market stop it? The government is small and doesn't have the resources in this problem.

267   Peter P   2008 Jan 16, 2:06pm  

Assume it can, and if not hopefully someone would try. Who would it be? A government? Would a heroic corporation lose its wealth knowing it was the only one and there was no compensation?

Perhaps someone should write a novel about this scenario.

To make it more interesting...

Let's say a meteor is to hit Earth in 100 years with 75% certainty. How will humanity react? There may be enough time to develop new technology but the treat may not materialize. What should we do? :)

268   Malcolm   2008 Jan 16, 2:10pm  

Peter Paul the libertarian candiate surprises everyone and wins the election. In his first week he eliminates the IRS, and reshapes government to his ideal view. A month later an amateur (no government scientists left) sees the meteor in his telescope. The space program has been cancelled but everything is still there, the auction hasn't happened yet.

What does Peter do?

269   Malcolm   2008 Jan 16, 2:16pm  

I can't answer your scenario first because that would help you. I promise I have the solution in my hybrid model.

270   Peter P   2008 Jan 16, 2:17pm  

What does Peter do?

We are doomed! :)

But that is the worst case, right?

271   GallopingCheetah   2008 Jan 16, 2:19pm  

Peter,

Do nothing. I mean, really, who cares about the survival of the human race. I expect a lot of sex happening all over the world when people know they're going to be wiped out. Not just with humans, with monkeys, dogs, cats, snakes and ants, too. Many people have secret desires that a meteor will bring to fulfillment. Not long ago, a man in Washington died from having sex with his horse.

272   Peter P   2008 Jan 16, 2:21pm  

Perhaps I will fly over to Japan and have a Fugu feast...

273   anonymous   2008 Jan 16, 2:22pm  

ANTS?

274   GallopingCheetah   2008 Jan 16, 2:22pm  

I know. Some activities are better than sex.

275   Malcolm   2008 Jan 16, 2:23pm  

Ok, you lost my vote :)

My solution under your scenario and probability:

Levy a per capita tax and put it into a specific account. That account will grow each year until the meteor is stopped. Whoever, or whichever corporation stops the meteor gets all of the money as a national prize. I believe in paying for performance.

The probability is irrelevent, just having it on an undisputed course with the Earth is enough of a crisis.

276   Peter P   2008 Jan 16, 2:25pm  

Perhaps the scenario is just outside Free Market's "envelope" of capability.

I can bet that all markets will breakdown and we will all revert to the basic mode. It is not going to be pretty.

277   Peter P   2008 Jan 16, 2:27pm  

Yuck! Please stop!

278   Malcolm   2008 Jan 16, 2:29pm  

Well it is easy to use the normal course of distribution of goods and services to argue the merits of the free market, just as it is easy to use an example outside the norm to illustrate limits. Admittedly it gets kind of tricky in the middle. The distinction in my opinion between political points of view is where you draw the limits.

279   Malcolm   2008 Jan 16, 2:32pm  

In my hybrid model thesis the government never competes with the free market, and happily hands off tasks the free market can take from it. The dilema is that high social need activities tend to be ones that don't generate any return for the private marketplace.

280   Malcolm   2008 Jan 16, 2:37pm  

Yet the private markets of course receive the benefits of solving the social problems.

281   Peter P   2008 Jan 16, 2:38pm  

The dilema is that high social need activities tend to be ones that don’t generate any return for the private marketplace.

So the dilemma shall remain... human is the hard problem.

282   Malcolm   2008 Jan 16, 2:42pm  

My opinion, any system would work if the human problem could be solved. Collectivism would work just fine if we didn't mind carrying our share of the work and or didn't resent it when others didn't, or didn't derive satisfaction when others are doing more than us for the same reward.

283   Peter P   2008 Jan 16, 2:44pm  

Collectivism would work just fine if we didn’t mind carrying our share of the work and or didn’t resent it when others didn’t, or didn’t derive satisfaction when others are doing more than us for the same reward.

That require qualities we denounced the day Adam ate the apple. :)

284   Malcolm   2008 Jan 16, 2:47pm  

Probably why the founders hid behind the concept of God given rights as the basis of individual liberty in the hypocritical logic.

285   Malcolm   2008 Jan 16, 2:48pm  

their hypocritical logic.

286   Peter P   2008 Jan 16, 3:14pm  

All I know is that eating meat is a God given right.

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