Bennybbc, unsold houses are like vintage red wines.
The longer they remain unsold, the better they age and the higher a premium they can command.
If you don't believe me, look at the Age article that Kincella referred to. Houses don't rot, they just mellow.
Although the properties that I have been tracking were already down 30% compared to say October last year, I figured they must be haunted or having bad feng shui.
I mean otherwise, they would have risen in price or have just fallen by 0.2%.
That's not even money, considering a $1,000,000 home, the loss is only $2,000.
Now I know why so many on the forum have embraced Kincella's words of wisdom.
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