Reply to Is there going to be panic selling?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm wondering if this could eventually spill over to the second/vacation home markets that are popular with DMV crowd... Delaware beaches, Shenandoah, OBX, etc. [/quote]

I think most people with kids will either rent or sell  a second home before selling a primary residence unless they were planning on retiring there anyway. [/quote]

My thought exactly.  I think we will see more vacation rentals pop up first before we see more discounted sales in vacation towns.  People will try to hold on and if they weren’t renting before they would now, or they would rent the premium months and forgo using the place themselves to break even on costs and save money and be able to afford their primary home where kids go to school.

Job market in vacation towns is obviously always going to be worse than a job market in DC metro even if job cuts are massive.  People who cannot break even on renting their vacation homes, or those who don’t want to deal with the hassles of renting will sell them.  So, yes these secondary home markets can be affected.[/quote]

Why would the vacation rental market have an impact on local dc federal cuts? doesn't make sense. the obvious thing would be to either sell your second vacation home which most federal related employee cannot afford, or rent them out for income.[/quote]

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