Boards acting as the market - any examples?

The topic of coop boards "protecting" values in their building by rejecting sales where they deem the price to be "too low" comes up from time to time. I wasn't able to find an old thread on the topic to bump up, so I had to start a new one. Noah at urbandigs touched on the topic this week, after having addressed it in more depth in another piece back in March. ... [more]

The topic of coop boards "protecting" values in their building by rejecting sales where they deem the price to be "too low" comes up from time to time. I wasn't able to find an old thread on the topic to bump up, so I had to start a new one. Noah at urbandigs touched on the topic this week, after having addressed it in more depth in another piece back in March. http://www.urbandigs.com/2009/07/condos_will_show_sharper_price.html http://www.urbandigs.com/2009/03/coop_boards_may_try_to_stop_pr.html My question is whether people have any known or suspected examples of 'price flooring' since the market break last fall? It seems to me that we are far enough into the adjustment process - both in degree of price decline and time elapsed - that there should start to be evidence (even though unprovable because boards do not have to give a reason for a rejection). [less]