The “Crooked” Sellers Among Us
The housing boom has been wildly profitable for those involved in the real estate sales transaction–builders, lenders, title companies, and agents. If profits appear too big, however, the phrase “price gouging” is soon to follow. But investment advisor Jeffrey R. Scharf says the conspiracy doesn’t end there:
Finally, let’s not forget home sellers. These folks are worse than OPEC, the Organization of Petroleum Exporting Countries. They deliberately manipulate the market by pulling their listings and otherwise refusing to sell when prices are low.
Sellers as profiteers and market manipulators? Surely, you jest.
…price gouging in real estate [Santa Cruz Sentinel]