Surprising city where 1 in 3 homes sell at loss

So what makes people sell at a loss? The property market doesn’t always go up in the short term – history tells us that, but over the long term, you do (or should) expect some capital growth. As long as you don’t sell when the market goes down, you’ll benefit when the market goes up. Of course, increasing the interest rates makes it more expensive to borrow money or be in debt, but it’s only a small percentage increase after a decade, surely most borrowers should be able to budget for that and the cost of borrowing doesn’t justify making a capital loss on selling – does it?
from Phang Legal