[EMAIL PROTECTED] wrote:
> Those who suffer are the ones who are forced to trade property (Job 
> relocation, etc) during a bad market swing.

Some relatives of mine relocated to RI in April 2007. Bought for 80% of what 
the 
house had been listed for, thought they got in at the bottom. Got hit by 
workforce reduction in October. Relocated to St Louis area this spring, lost 
almost 25% on the Rhode Island house (partly because the largest employer in 
the 
area had done major layoffs in November). They would have been in a world of 
hurt if the new employer hadn't bought the house from them for breakeven and 
eaten the ~90k loss for them.

Mitch.

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