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Bursting the Bubble

March 08, 1992

So first-time buyers of residences can't afford to buy a home! So sellers of residences can't find buyers! Well, now, why don't those people attempting to sell just lower the prices of their houses until they get a buyer?

I took a real estate appraisal course at El Camino College a while back, and I asked the instructor, "If a house is properly priced, how long should it take to sell, if it is properly marketed?" He answered that it should sell within one month.

When the government steps into the picture with subsidizing, what is really happening is that free market forces are not being allowed to operate, and the sellers are continuing to make the huge profits on real estate that they have been making for years now.

Government should let the bubble burst.

MAE HANSEN

Gardena

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