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Is AWD / 4MATIC a must in rainy areas?

I live in Northern California - where it can rain pretty hard in the winter months - and am considering a Mercedes ML350. To date, I've only driven FWD cards. Is RWD an unsafe option (presumably poor traction in the rain) - or does included traction control compensate enough? FWIW, the car weighs 4800 lbs.
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I'd be more worried about resale on a RWD SUV... If 95% of the ML in stock at your dealer are AWD, then yours will be a tough sell, when the time comes.
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