Say’s law
Say’s law
Did you know that before demand & supply side economics there was Say’s law? Jean-Baptiste Say (1767-1832) argued that no good or service would go chronically unsold as long as prices remained flexible.
A modern pundit put it another way, “Price is only important, when you don’t want something enough”. Wow, do you know what it costs to send your child to an Ivy League school for four years? It doesn’t matter if education is a priority.
A house is worth only what someone is willing to pay. That also applies to cars, boats, and used pianos. Since 1977, when I entered the real estate business a little miracle happened when a seller priced their house properly. Buyers looked at the property, made offers, and the residence sold to a new owner.
Say’s law is as correct today as it was over 200 years ago. Adjust your price every few weeks, and the property will eventually sell. You don’t need to be an economist to know that.
Sincerely,
