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Market Musings

In response to yesterday's third quarter market reports, the WSJ rounds up some quotes from industry insiders, like Prudential's Dottie Herman and Hamptons publisher Richard Ekstract. To contextualize a 14% drop in median sale prices, Herman explains that "until the uncertainties are certain, people are afraid to start buying again." And Ekstract, who had to drop the price of his home from $18 to $7.99 million (listing here), simply states that "the merry-go-round has stopped." Boy, has it ever.