[KellyAdmirer]

Getting adjustable-rate mortgages two or three years ago when rates obviously were bottoming was a huge, classic mistake.

[Cementjungle]

Getting adjustable-rate mortgages two or three years ago when rates obviously were bottoming was a huge, classic mistake.

Certainly, at least if you plan to hold the investment for more than a few years.

[ex-Texan]

I agree with you 100%. Allan Greenspan went too far when the personally recommended people take advantage of ARM loans to purchase overpriced houses. His comments in 2003 also helped inflate the bubble further and delayed a more gentle correction. The bursting bubble and economic fall out may be blamed on Greenspan.

Here is a better link to view those obnxoius personal attacks on my real estate posts.

[Theo]

Definitely a mistake. Those losing their homes because of it are (sorry to be so heartless) Darwin Award winners.