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Real Estate
Reply to "Is there going to be panic selling?"
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[quote=Anonymous]The people most at risk are those who bought in the last 2-3 years, have high interest rates and not much equity. Even a 5% downturn in home prices could be enough to make selling difficult with the transaction costs. Equally at risk are people who don't have much savings and can't weather the storm for 3-6 months while the chaos ensues. We lived through 2008 and have over-saved our cash to never be that close to the edge again. If we both lost our jobs we'd be able to maintain our lifestyle for at least a year, probably two, without significant hits to COL (health insurance being the big wild card here). We are fortunate but I worry about all the people who don't have the same cushion. [/quote]
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