I felt as though we needed to take up a fundraiser for the rich in Greenwich, Conn. when I read the headline "Greenwich Mansions Get Biggest Discounts since Lehman Fell."

This headline in Bloomberg certainly makes it look as if the price of homes is collapsing, as it did at the end of 2008, as if there were a problem with the economy.

The article is one of the most worthless pieces of journalism I have read in a while.  It does not give an indication of what these same houses sold for in 2007, in 2011, or even last year.  All it gives is the discount off the asking price.  The article does mention that people may have been asking for too much, and the headline implies that they are asking for a fair price and being forced to dump their houses at a discount.

High-end homes that changed hands in the quarter had their prices cut by an average of 13.5 percent, the most since the last three months of 2008, when the housing market all but froze in the months after Lehman Brothers Holdings Inc. filed the largest bankruptcy in U.S. history, according to a report Thursday by  Miller, Samuel, Inc. and brokerage Douglas, Elliman Real Estate. ...

The most expensive sale of the quarter was an eight-bedroom mansion that belonged to  billionaire investor Stanley Druckenmiller.  It traded in November for $25 million, 21 percent less than the $31.5 million Druckenmiller sought in March, according to the listing.

It took an even larger discount – almost 68 percent – to find a buyer for billionaire Thomas Peterffy's 80-acre (8.9-hectare) estate in the gated Conyers Farm community.  The property – with a seven-bedroom house, a pool[,] and a 22-stall stable close to polo fields – sold for $21 million, down from the $65[-]million asking price in 2015, listings records show.

I would like to say the automobile market is collapsing.  I was asking $10,000 for a 1972 Vega, and I can't find a buyer at any price.  I am being forced to discount the price 100%.

Michael Bloomberg is a leftist, and his media outlet reflects that.  How many of us can really relate to a $25-million house and then imply that the house is being sold at a 21% discount?  This article was about 19 homes that sold at 4.65 million dollars or more.  The more I read the article, the more I almost cried for these suffering poor homeowners.  Maybe the price of their Teslas will hold up, at least.