Market's Silliest or Useless Marketing Gimmicks

http://www.nytimes.com/2008/11/14/nyregion/14crawl.html?_r=2&ref=nyregion&oref=slogin&oref=slogin

When you can't sell, get 'em drunk!!

They will do everything in their power to show "prices" are not falling. It's like car companies offering 0% financing so that when you check Edmunds or whatever the actual prices haven't changed.

There are lots of stupid sponsor tricks: California Closets, Plasma TVs, 7-year balloon sponsor financing, paying or capitalizing certain closing costs (an overrated throw-in, because it mostly helps buyers who are stretching too much; well-qualified buyers are usually better off with a straight price reduction). In the end, each buyer can figure out what these things are worth to them, so they're all basically harmless.

The worst gimmick is ANY incentive that goes to the buyer's broker rather than the buyer. Talk about moral hazard.

I was really waiting to see them offering Elliot Spiter's

little black book

In the NYT article: "But it held no allure to Matt Yeager, a 24-year-old trader with Jane Street who is shopping for a two-bedroom apartment for $2 million to $3 million."

Was a 24-year-old really looking for a $2-3 M apt, or just with his friend to get some free high end drinks?