Which Economy Are You In?

We are looking at houses that seem to be over-priced, even for a normal market. A newly-renovated house, admittedly big (five bedroom), which is on a busy street and overlooks a somewhat seedy apartment buildings carries a nearly one million dollar price tag.

My husband was annoyed that we even bothered to look at it.  I explained my plan, which was to submit an offensively low bid. It was explained to me that by our realtor that this would not fly.

Of course, the realtor has a second agenda.  And a career that until the past year has been quite lucrative.  She drives a Jaguar and a Lexus. I suppose she could be forgiven for trying to hang on to the glory days.

But I am confused about why, amid sweeping layoffs, huge stock market dives and several local foreclosures, house prices still seem to be inflated.  

The near-million dollar price tag on the house we saw was a *newly reduced* price.

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