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We have clearly moved on from Stage 1: Denial in the Kubler-Ross cycle of grieving, as the following should establish beyond all reasonable doubt (thanks to Ben Jones):

Washington Post - Real Estate Live

Ashburn, Va.: 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 don't think he is acting very "neighborly" by doing this. I want to say something to him and tell him he should stop putting his interests ahead of his neighbors. Its people like him who are ruining the market for the rest of us. If he would just refuse to lower his price, we could maintain our comps and everyone would benefit. What can I do to stop him?

We should be seeing a whole lot more of this for many, many months to come. Grab yourself a lawn chair on any one of the many "Flipper alleys" in your neighborhood, sit back and enjoy the fireworks. Ahhhh... life is good (for bears) and is going to get even better.

Discuss & savor...
HARM

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