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Yeah, North America appears to be the 'small pockets' in question.
The value evaporating isnt as much of a problem as the leveraged debt a lot of people have taken on. I can tell you right now that every one of my neighbors refinanced or took out a HELOC and used the proceeds to buy new cars, boats and RV's.
Good luck to them!
Homes here more than doubled in price in 4 years. A fair bit of the bloom is off that rose right now...
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Many an optimist has become rich by buying out a pessimist
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