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"So I'm not an expert or anything, but I'm going to have to agree with commenter #5. I've gone to a few open houses in recent weeks and the prices are still insane ($1700 a square foot in Chelsea insane). If the market has bottomed, wouldn't sellers be lowering their prices somewhat significantly? Honestly, I don't know how this works, so clue me in please, but I'm still seeing 2007 prices all over the place and that doesn't make sense to me." ['Cause This is Shiller, Shiller Night]