This house has five price reductions.
Is this sentence correct?
EverestCTS This house has five price reductions. Is this sentence correct? No.
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EverestCTSThis house has five price reductions.
Is this sentence correct?
No. It's like saying "This photo has three enlargements".
When an object has undergone a procedure, we don't express it by saying the object has the procedure.
Either say 'has had', meaning 'has undergone':
This house has had five price reduct