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Ah, the good old days

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"?there’s a very low absorption rate right now. Moreover, most homes in San Francisco are selling for less than $1M" Realtor-blogger Eileen Bermingham does a quick overview of the current lack of absorption in the luxury market. Among other factors, people who could have afforded more expensive houses are having trouble getting big loans. She leaves out the part about the lack of under-thirty millionaires being created on a weekly basis. [ISFRE]