Many Homeowners Insist on Inflated Prices The troubled housing market is revealing an odd quirk about the process of selling a home. The usual economic truism — as demand goes down, the prices go down — doesn't seem to apply.

Many Homeowners Insist on Inflated Prices

Many Homeowners Insist on Inflated Prices

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The usual economic truism — as demand goes down, the prices go down-- doesn't seem to apply in the current troubled housing market. Many homeowners prefer not to sell their home than to take a penny less than their inflated asking price.

Hersh Shefrin, professor of behavioral finance at Santa Clara University, breaks down the economic conundrum for Andrea Seabrook.