### Comment:
Sellers have price anchoring which is going to wear off after their home sits on the market for a few months. Don't worry, price cuts are coming quickly. Don't try to catch a falling knife though.

### REPLY:
what do you mean by price anchoring? They are most likely in fixed mortgages and can't move/moveup. My guess is that lots of them will get stuck. Inventory will plummet as non-sellable housing is removed from the market -just like in 2009.

### END.