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What’s the economics term for when there is high demand for something but deals don’t close reliably?
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Okay on the one hand the NYC rental market is insane and every apartment showing has a line out the door. OTOH, after your turn down a place the brokers keep bugging you and lowering the price and apartments that go off market pop back up days later?
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Probably you the need for an apartment but not the means (price is too high). So it wouldn't be part of the demand... Sort of like unemployed needs to be looking for a job to be unemployed and not outside the workforce.
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"Slippage" comes to mind In project management, it means a thing doesn't hit a deadline. In finance, it means the price of a trade changes because prices move between agreeing to it and executing. Not a perfect fit because in this case the thing wasn't executed.
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To me the described in the housing market is direct consequence of asymmetrical information + non-fungible goods. The result is price finding strategy from both sides. Don't have a clue if there is a name for it.
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