Dollars and Jens
Thursday, June 29, 2006
Moderate Inflation is Good
Because prices are sticky:
After having her home on the market for nearly a year — with about 30 showings, multiple price drops, and only one not-so-tempting offer — Phyllis Troia decided to try something different. Very different.

She and her husband put her Dutch colonial in Plymouth up for auction, to be sold to the highest bidder.


After the weekend, there were nine bidders — a very promising development. But in the end, she was not satisfied with the final two bids, and exercised her right to close the bidding. She's now moved on to a for-sale-by-owner model.
Of course, a seller could also try the same tricks and hold out for an excessive price in a hot market. But I suspect it's more common when the market-clearing price is falling than when it's rising.

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