Out and About: The big lie fools no one

(flickr photo by Phoney Nickel)

Anyone who regularly reads this column know that I find fault with asking prices most of the time in the Manhattan residential real estate market.

Let’s forget about irrational pricing, which can be explained by some combination of the listing broker’s ignorance or hubris and the seller obstinacy or imagination.  I’m sure you can add your own explanations as well.

With regard to those numerous condos, co-ops and townhouses with offering prices usually about 10-20 percent too high, the obvious reason for that commonplace situation rests on Continue reading