the most difficult in grammer is pronoun

        to be honest

        if you really understand the given sentence, you will choose the right answer

While depressed property values can hurt some large investors, they are potentially devastating for home-owners. whose equity--in many cases representing a life's savings--can plunge or even disappear.

do you think is there any problem with the pronoun?

       no problem

       i think you may be confused by "they"

       however, you can find its logic reference, so what problem???

       are you understand the intention of the author???

I understand the intention of the author

but sometimes i understand the intention of the author even when there are still some problems with the pronoun