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Military housing markets not immune to downturn

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The transient nature of military life can provide a boost to housing markets with a military presence, but such markets have had their share of struggles from the housing downturn, including negative equity, price declines, and tight lending standards, according to a snapshot of five military markets from ERA Real Estate, released in time for Veterans Day. "Military housing markets are definitely insulated but not immune to broader economic pressures," said Charlie Young, ERA Real Estate's president and CEO, in a statement. Deployments, relocation and base realignments mean that "there is a lot of activity, but we are seeing many buyers move into rental markets because they are underwater in their homes due to frequent moves or the market drops that have eroded home values across the country," Young added. ERA Real Estate examined five military housing markets across the country: Fayetteville, N.C.; Colorado Springs, Colo.; El Paso, Texas; Virginia Beach, Va.; a...