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Real Estate
Reply to "Is there going to be panic selling?"
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[quote=Anonymous][quote=Anonymous]what sort of financial sense would it make to "panic sell" the roof over your head that you likely have with a sub 5% mortgage rate? Even moving to a MCOL or LCOL location - with rates as high as they are - it makes no financial sense. [/quote] The premise of this thread is that many people will be unemployed. If you were living paycheck to paycheck (and unfortunately, many people with 6-figure incomes do), and you can no longer afford your mortgage, than the only move that makes "financial sense" is to sell rather than having the house taken by foreclosure. Will it happen on a large scale in this area? I doubt it, but who knows.[/quote]
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