Those who have a lived experience of this from other markets (such as the UK) will concur. And while you're correct about the debt concerns of the most leveraged, the reality is that it is the negative sentiment that impacts on all who need or wish to sell. I have personal experience of sellers climbing over each other to exit the market, while illiquidity guarantees that they have to sit and watch their losses build on a weekly basis. Frustrating and frightening.
