Well, it's a start
Coldwell Banker initiates nationwide, 10% cut in all listing prices in the hope of jump-starting sales. I doubt 10% is sufficient. Coldwell says that these cuts will only last for a "ten day sales event" but what are they going to do on the eleventh day, rest? Raise the prices back up? Neither seems particularly useful.

And here's a quote from one disappointed homeowner who could easily be (but isn't)speaking from Greenwich:

This is the first time we're lowering it, and we really didn't want to do that because we listed it to sell," she said. "We knew things were tough, but the home is a really desirable unit in a neighborhood that rarely has anything come open so we didn't think it would have any problems selling.

None so blind as those who will not see, I suppose.