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Real Estate
Reply to "Is there going to be panic selling?"
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[quote=Anonymous]Some of my friends think there will be mass selling off homes in DC metro with huge percent of population becoming unemployed and not enough private industry jobs. For now I see homes still being built, not skipping the beat and there are no bargains, but I am worried about the future of this area despite being in private industry. We are kind of trapped staying here and cannot sell. Family reasons and also having a cheap rate (like many others) and mortgage we can afford. Moreover, if selling off does happen where would you go? It's expensive everywhere, I can't find anything cheaper that's not a shi*hole. And if prices do tank a lot then this will become a low COL area and you can no longer cash out enough to buy anything in another metro area with a decent job market. I wonder how many people are going to be trapped in the same situation afraid to move for a sticker shock [/quote]
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