There will be a downdraft, but it will be relatively modest because, after all, people need their homes, they can't simply sell and go into cash. There will be enough of an economic squeeze to hurt sales and that is the risk here, that lack of demand will cause prices to soften for those forced to sell for one reason or another when there is a dearth of buyers, and people will be looking for bargains. So those are the risks we see, not a mammoth collapse as can happen to the market at times.
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