Bubbles, Credit and Their Consequences, page-187

I don't know why, some people keep banging on about how most people wont sell..

I keep saying to them WHO CARES if most people don't sell, because the ones that do are the ones who will have a higher influence on market prices. There WILL be people selling, you can count on that.

Most people in the US and all other markets that have crashed never sold. It didn't stop the market from crashing or the value of their homes falling as the market declined.

Most people in Sydney have held onto their homes so far and I also expect most to hold on to them through this downturn - but look at the decline in house prices it falling faster than units and IT AINT over yet! -