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In World’s Best-Run Economy, House Prices Keep Falling — Because That’s What House Prices Are Supposed To Do
July 5, 2017 /
When Americans travel abroad, the culture shocks tend to be unpleasant. Robert Locke’s experience was different. In buying a charming if rundown house in the picturesque German town of Goerlitz, he was surprised – very pleasantly – to find city officials second-guessing the deal. The price he had agreed was too high, they said, and in short order they forced the seller to reduce it by nearly one-third. The officials had the seller’s number because he had previously promised to renovate the property and had failed to follow through.
Eamonn Fingleton
MATR Supporters (view all)
Posted in: Other Economies
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