Supply. Demand. Price. Logic. realtors. Something's missing in this loop as a ramen eater states "Will I cut my commision? No!.... Next question"

Let me see if I can help her out, since she obviously has never taken an Econ 101 class..

OK, let's say you had a company who made widgets (oh, please, don't ask what a widget is). So the company makes a million widgets, at a cost of $1 each, and prices them at $100 each. But there's only buyers for 2 of them.


So the company lowers the price to $50. And finds 5,000 buyers.

So the company lowers the price to $10. And finds 10,000 buyers.

So the company lowers the price to $2. And clears through their inventory.

So did that help?

It doesn't matter how much you believe in your price, or think you can justify your price. It doesn't matter what your costs are. The ONLY thing that matters is what price the market will bear for your product or service. And the market will no longer pay 6%.

Try $20 an hour. Max.

And want a really good tip? Go find another job. "realtor" is no longer a viable profession in America.

Thanks Wot for the link...

Will I cut my commision? No!.... Next question.

It should be that easy, but it isn't! My value as a REALTOR to you the home seller is well worth my professional fee. You the home seller, need to know the answer to my most frequently asked question.

Want to know what an epic housing crash looks like? Broward Country Florida has a SEVEN YEAR supply of unwanted homes on the market (so far)

Seven Years.

And we're still just getting started.

Note to anyone trying to sell a home in Broward County - cut the damn price. Now. Deep. Fast. Now. It's only gonna get worse.

Seven years. Wow.

Broward County had by far its worst May since the Florida Association of Realtors started keeping track in 1994. There were 574 sales of existing homes compared with 862 a year ago, a 33 percent slide.

The median price, up slightly in February, March and April, fell by $12,100, to $367,700 from $379,800 a year ago.

At the end of May, Broward had more than 47,500 homes and condominiums on the market, according to the Miami-based Keyes Co. That's up 27 percent from a year ago. At the current sales pace, it would take about seven years to sell all those properties.

Bizarre-o-world: Homebuilder stocks jump because they're (supposedly) adding more dead inventory into a crashing market

We're officially in la-la land now.

The untrustworthy and error-prone Commerce Department new home permit numbers yesterday prompted the media to deceptively headline that homebuilding rebounded - up 0.8%! Party time!

This is strange in and of itself because the number was actually down 23% year over year, which is the only number that really matters. It was up 0.8% vs. the month prior, but nobody looks at month to month (nobody smart that is). Plus the numbers themselves were bizarre (and obviously so error filled they're worthless). A 44% surge in the midwest and down in all other regions. Yeah, right. Detroit and Cleveland we need more houses!

So homebuilder stocks rallied off their lows, as Wall Street bets are coming in the the housing crash is over, because they think homebuilders are building new homes at a faster pace (which they aren't), which is great news - more inventory! (which is actually terrible news)

Confused? Because Wall Street sure is. They should be FREAKING OUT that homebuilders are building ANY homes, given that inventory is skyrocketing and sales are falling. This would be like celebrating that Global Crossing was laying more fibre-optic lines during the telecom crash. More inventory! Great news!

Even the government warns people not to rely on these numbers - with AN 11% MARGIN OR ERROR ON EITHER SIDE! Permits flat? Maybe - they could have been down 11% or up 11%, f*ck, we just don't f*cking know! Don't trust us!

Folks, there's an 8.1 month supply (at least) of dead inventory out there, only fools are buying houses, you can't get a mortgage anymore, and the number of completed but unsold homes is up 43% vs. last year, at 179,000 unwanted units (thanks housingdoom!)

Bottom line - homebuilders are on the way to Chapter 11. Adding ANY more inventory into this disaster is a horrific business model. And this will all end so, so, so badly.