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That's why.
What if It's only listed as an Airbnb because they can't sell it though? It's been listed on the market, and it has not sold obviously. What else would you do with a home that you're not living in and you're actively trying to sell? That's what's not really making sense to me. For example say I have a vacation home in Pennsylvania or something like that. I put it on the market for the valuation that it has, 500k, hundreds of other homes just like that, no one's buying it for months and months and months... But I'm still paying for it. What exactly is wrong with putting it on Airbnb?
Or maybe the valuation is bullshit? Naaaah, couldnt be..
remember, the houses you see on the market are those which did not get sold.
Housing prices are based on comparable homes sold in the area, so what are you guys talking about?
I won't argue that speculation hasn't caused prices to rise drastically but this is an industry-wide issue not an issue with homes that "did not get sold" because they happen to be on the market at the time you viewed the available listings. You're implying that any home on the market is priced too high simply because it's on the market.
we are talking about the fact that if you have trouble selling the house, then it is literally the market, who told you that your "market" valuation is clearly wrong.
of course i am not. you should have learned what hyperbole is sometime in elementary school.
the statement is not valid for every house that is on the market for 5 minutes. it is however perfectly valid for most of what is on the market longer than w/e is the average for that market. maybe you have something truly unique and you have to wait for your customer, or maybe you have inflated sense of the value of the object you are trying to sell, be it a house or used car.