Just Price?
5 November 2007
Editor, WSJ.com
200 Liberty Street
New York, NY 10281
To the Editor:
Were your organization run by friars reincarnated from the dark ages - or by today's editors of The Nation - I could understand your "Question of the Day" - which, today, is "How much do home prices in your neighborhood need to fall before they are fair?" But surely you’ve progressed beyond believing that fair prices are something other than those terms voluntarily agreed to by buyers and sellers.
And surely you also understand that there is nothing at all unfair about the current owner of a home choosing not to sell that home at any price that he, for whatever reason, regards as too low.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Editor, WSJ.com
200 Liberty Street
New York, NY 10281
To the Editor:
Were your organization run by friars reincarnated from the dark ages - or by today's editors of The Nation - I could understand your "Question of the Day" - which, today, is "How much do home prices in your neighborhood need to fall before they are fair?" But surely you’ve progressed beyond believing that fair prices are something other than those terms voluntarily agreed to by buyers and sellers.
And surely you also understand that there is nothing at all unfair about the current owner of a home choosing not to sell that home at any price that he, for whatever reason, regards as too low.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Posted by Don Boudreaux on
Thursday April 24, 2008 at 1:31pm