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Posted over 1 year ago

The Mexican Standoff in Real Estate

Though I am not sure if I can use the term "Mexican Standoff" 

But there is a definition available:

A Mexican standoff is a confrontation in which no strategy exists that allows any party to achieve victory. Any party initiating aggression might trigger its own demise. At the same time, the parties are unable to extricate themselves from the situation without suffering a loss.

Basically this is what we have going on right now in the Worcester Real Estate Market.

The buyers don't want to buy since interest Rates are so high they cannot make any money.  

Sellers don't want to sell because they a) have a low interest rate themselves b) have nothing to buy that they would rather have.

When will this end?

It will end when there are sellers who NEED TO SELL and this will lower prices for everyone.

Sellers have a choice not to sell, but if they do decide to sell, it will likely be at lower prices then recent memory