why is there a real estate slump in mendocino?

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why is there a real estate slump in mendocino?

2006-06-27 10:39:56 · 2 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate

2 answers

If homes in Mendocino were selling for $75,000 each, then there would be no slump.

Slumps happen when there are no sellers selling at the price that buyers can afford, or wish to pay. So one of two things must happen for a sale to take place - either the seller must drop the price, or the situation in Mendocino must somehow improve such that buyers want to pay more to live there.

2006-06-27 10:58:28 · answer #1 · answered by Polymath 5 · 0⤊ 0⤋

Prices are too high?

2006-06-27 17:49:39 · answer #2 · answered by Doctor J 7 · 0⤊ 0⤋